Which statement regarding the guaranteed insurability rider is FALSE?

The statement that the guaranteed insurability rider is available to all insured is false. This rider is typically offered only to certain individuals at the time of policy issuance, often subject to specific eligibility criteria. Insurers may impose restrictions based on factors such as age, health status, or the type of policy in question, meaning not everyone will qualify for this addition to their coverage.

The guaranteed insurability rider allows policyholders to buy additional insurance on specified dates or events, providing them the flexibility to increase their coverage without undergoing a new underwriting process, which is advantageous if their health situation changes. This flexibility often comes with options for purchasing additional coverage at the attained age, but again, it is conditional and may not be universally available to all insured individuals. Additionally, the amounts that can be purchased are typically outlined in the base policy, further emphasizing the tailored nature of this rider to individual circumstances.