Definitions for "Cost-of-Living Rider"
rider on a life insurance policy or a disability income policy that adjusts the benefit to reflect fluctuations in the cost of living as measured by the Consumer Price Index.
An option that permits an insurance policy holder to purchase increasing term insurance coverage, to keep up with expected increases in the cost of living. see also rider.
A contract amendment that automatically increases the amount of coverage to compensate for the effects of inflation.