What type of rider allows an insured to purchase additional coverage at predetermined times without proving insurability?

The Guaranteed Insurability rider is designed to allow the insured to purchase additional coverage at specified times without the need to provide evidence of insurability, meaning they do not have to undergo medical underwriting. This is particularly beneficial for individuals who may become uninsurable due to health changes over time.

The rider typically specifies certain ages or life events—such as marriage or the birth of a child—when the policyholder can increase their coverage. This ensures that even if their health deteriorates, they still have the opportunity to secure more insurance, which can help maintain adequate financial protection for themselves and their families.

The other riders mentioned, such as the waiver of premium rider, conversion rider, and cost of living rider, serve different purposes. For example, the waiver of premium rider allows policyholders to skip premium payments if they become disabled, while a conversion rider enables the policyholder to convert a term life policy into a permanent one without evidence of insurability. The cost of living rider provides for increases in coverage based on inflation but does not specifically relate to the opportunity to purchase additional coverage without proof of health status.