A guaranteed insurability benefit (GIB) rider lets you buy more life insurance at set future windows without a new medical. Map out those windows and see how much coverage you could lock in, even if your health later declines.
Each time you exercise the option you may add this much, at your attained-age price.
A GIB typically opens a short window (e.g. within one month of a policy anniversary).
Many GIB riders cap how many times you can exercise the option.
Max coverage reachable
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no new medical
Extra coverage via GIB
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Options used
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Last option age
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How this works. Each amber dot is a window where you may buy more coverage without proving your health. The price is set by your attained age at that moment, but the company still assumes your health is unchanged. The blue staircase is the total coverage you would hold if you exercised every available option; the grey line is your starting coverage if you never used the rider. The rider's real value shows up if your health declines: you can keep stepping up while an uninsurable person could not. Windows stop once you hit the maximum number of options or reach the cut-off age.
Educational illustration of standard Canadian insurance concepts. Figures are illustrative, not an insurer’s rates.
Illustration only, not a quote or advice. Figures are simplified for education and do not
reflect any specific insurer's rates. Consult a licensed advisor.