Which of the following riders provides coverage that increases with the cost of living?

The cost of living rider is designed specifically to increase the death benefit of a life insurance policy in accordance with inflation or changes in the cost of living. This rider typically adjusts the death benefit over time based on a specific index, such as the Consumer Price Index (CPI), ensuring that the policy's value does not diminish as inflation affects its purchasing power. By doing so, policyholders can maintain adequate financial protection for their beneficiaries, even as living costs rise. This is particularly valuable for long-term policies, where a static benefit can become inadequate over time due to inflation.

In contrast, riders like the accidental death rider provide additional coverage for death that results from accidents, but they do not adjust for inflation. The waiver of premium rider allows the policyholder to skip premium payments under certain conditions, such as disability, but it does not affect the amount of coverage. The spouse rider adds life insurance coverage for a spouse but also does not incorporate automatic increases based on the cost of living. Thus, the cost of living rider is uniquely suited to address the challenge of maintaining coverage value against inflation over time.