Which type of insurance policy provides coverage for multiple family members?

The family term rider is specifically designed to provide coverage for multiple family members under a single policy. This rider allows policyholders to add dependents, such as a spouse and children, to a basic term life insurance policy. By including a family term rider, the insured can ensure financial protection for multiple individuals without the need for separate policies for each family member. This feature not only simplifies the management of insurance coverage but also often results in a more cost-effective solution for families seeking to ensure their loved ones are financially secure in the event of an unexpected loss.

The other options focus primarily on individual coverage or specific types of policies that do not inherently cover multiple family members as a core feature. For instance, term life insurance typically covers only the insured individual, while universal and variable life insurance are designed for individual insureds with investment components and do not provide the same family-centric coverage as a family term rider. This distinction highlights the unique benefit of the family term rider in providing a collective form of coverage among family members.