Provisions, Options and Riders Conclusion

Provisions, options and riders are used to alter a policy in some form. You’ve seen that provisions are included within a policy, and are typically used to include language in the contract that shows the primary features and definitions used in life insurance. For instance, you will not see settlement options in property and casualty policies - those simply pay the insured for a covered loss, and there aren’t different methods by which to get a claim settled. The insurance company writes a check for the damage to the car or the house, and the claim is typically settled, unless there are problems after the fact, like the estimate was incorrect and the company has to pay more on the claims.