Which rider provides coverage if the premium payer becomes disabled or dies?

The Payor Provision Rider is specifically designed to address the scenario in which the individual responsible for paying the premium becomes disabled or passes away. When this rider is in place, the insurance company waives the premium payments for the policy, ensuring that the coverage remains intact even in the event of the payor's disability or death. This feature is particularly beneficial for policies where a parent or guardian is the premium payer for a child’s life insurance, as it ensures that the child’s coverage continues without financial burden if the payor is no longer able to contribute.

In contrast, the Accelerated Death Benefit Rider allows the policyholder to access a portion of the death benefit while still alive, typically in cases of terminal illness, but does not specifically address premium payment scenarios due to disability or death of the payor. The Renewable Term Rider provides the option to renew a term policy at the end of its term without proving insurability, but it does not provide coverage related to the non-payment of premiums due to the premium payer's circumstances. Finally, the Conversion Option Rider permits the conversion of a term policy to a permanent policy without evidence of insurability but does not relate to premium payment protections. Thus, the Payor Provision Rider is the correct choice for