What is not TRUE about the guaranteed insurability rider?

The statement that is not true about the guaranteed insurability rider is that it is available automatically, for no extra premium. In reality, the guaranteed insurability rider is an optional feature that must be added to a life insurance policy. This rider usually comes with an additional premium cost that the policyholder needs to pay for the benefit of being able to purchase additional insurance coverage in the future without needing to provide evidence of insurability, such as medical underwriting.

The primary advantage of this rider is that it provides policyholders the ability to secure additional life insurance coverage as their needs change over time, for example, due to marriage, the birth of a child, or increased financial responsibility, all without having to undergo a health assessment or risk being declined due to health issues.

The other options detail features of the rider that are well understood in the context of insurance policies. The ability to purchase additional coverage without proof of insurability is a key characteristic, making it attractive for individuals anticipating future life changes. Moreover, it is typically offered at the discretion of the policyholder when they initially acquire the policy or during set times specified in the policy. This rider is also commonly available with many types of permanent life insurance policies, adding flexibility and security for