Which rider on a life insurance policy pays a specified amount for each day the insured is confined to a nursing home facility?

The correct answer is the Long-Term Care Rider. This rider is specifically designed to provide a daily benefit to the policyholder when they are confined to a nursing home, reflecting the increasing need for long-term care solutions due to aging populations and rising healthcare costs. This rider helps address the financial burden of extended nursing home stays by offering a specified dollar amount for each day the insured is receiving care in such a facility.

Other options, while relevant in various aspects of life insurance, do not fulfill this specific function. The Waiver of Premium Rider allows a policyholder to suspend premium payments if they become disabled, but it does not provide daily cash benefits for nursing home confinement. The Accidental Death Benefit Rider pays an additional benefit if the insured dies due to an accident, and it does not address nursing care costs. Lastly, the Guaranteed Insurability Rider allows the insured to purchase additional coverage at certain future dates without providing proof of insurability, but it does not have anything to do with daily benefits for nursing home confinement. Understanding the purpose and function of each rider is crucial in selecting the most appropriate coverage for an individual's needs.