What type of rider is specifically designed for children in a family insurance policy?

The Child Term rider is specifically designed to provide coverage for children under a family insurance policy. This rider provides a death benefit for each child covered under the policy, allowing parents to ensure financial protection in the unfortunate event of a child's death. Typically, this rider covers a specified amount that can be converted to a permanent policy when the child reaches a certain age, thus providing flexibility.

The Child Term rider is advantageous because it usually offers coverage at a lower premium compared to individual child policies, making it a cost-effective option for families. It also allows for the addition of new children without the need for further underwriting, simplifying the process for families as they grow.

The other options, while related to insurance policies, do not specifically pertain to children's coverage in this context. For example, a Juvenile rider is sometimes confused with the Child Term rider but may refer more broadly to policies for young applicants rather than directly covering children as dependents. A Payor rider is designed to waive premiums if the policyholder dies or becomes disabled, and a Dependent rider generally covers dependents but not specifically children or in the same structured fashion as the Child Term rider.