A term rider is an additional feature that can be added to a permanent life insurance policy. It provides coverage for a specific period but does not offer lifelong protection. This option can be cost-effective, but it is important to note that it does not provide long-term security.
A term conversion rider allows you to convert your term life insurance into permanent coverage without the need for additional medical examinations. This means that regardless of any changes in your health condition, you can ensure long-term security for yourself and your loved ones.
The decision between these two options depends on your individual needs and circumstances. If you are looking for temporary coverage with lower premiums, a term rider may be the right choice. However, if you desire lifelong protection with higher investment value, a term conversion rider may be more affordable and suitable.