Which type of rider allows a policyholder to increase coverage without additional underwriting?

The guaranteed insurability rider is specifically designed to allow policyholders to increase their life insurance coverage without undergoing additional underwriting processes. This feature is particularly beneficial for individuals who might anticipate needing more coverage as their circumstances change, such as during significant life events like marriage, purchasing a home, or expanding their family.

This rider typically allows predefined increases at specified intervals or during certain life events, giving policyholders the flexibility to adjust their coverage in response to their evolving needs. Because the policyholder does not have to undergo additional medical examinations or provide new health information, this rider eliminates the risk of higher premiums that could result from changes in health status.

In contrast, the cost of living rider adjusts benefits according to inflation but does not inherently allow for increases in coverage without underwriting. The accidental death rider provides an additional benefit in the event of a death caused by an accident but does not allow for increased coverage. The waiver of premium rider eliminates the need for premiums to be paid in certain situations but does not pertain to increasing coverage. Thus, the guaranteed insurability rider stands out as the only option specifically allowing for enhanced coverage with ease.