What is a "spouse rider" in a life insurance policy?

A spouse rider in a life insurance policy is designed to provide coverage specifically for the policyholder’s spouse at a reduced premium compared to a standalone life insurance policy. This option is typically included as an add-on to the primary policy, allowing families to secure additional life insurance coverage for the spouse without the need to purchase a separate policy. This can result in cost savings and simplifies the management of insurance policies for the family.

The benefits of including a spouse rider are significant; it ensures that in the event of the spouse's passing, there is a predetermined death benefit that can help the insured individual manage financial responsibilities, such as mortgage payments, debts, and living expenses. The reduced premium aspect provides an economical solution for families looking to enhance their coverage.

The other options describe features or benefits that do not accurately capture the essence of what a spouse rider is. For instance, covering children or paying funeral expenses does not align with the core function of a spouse rider, which is solely to extend coverage to the spouse. Similarly, the mention of premium increases for entire family coverage does not reflect the spirit of the spouse rider, which aims to provide cost-effective coverage specifically for the spouse.