Yes, you should, especially if:
You work in a hazardous profession
You’ve to travel frequently
You’ve to visit dangerous/accident-prone locations for work
You have a potentially dangerous hobby such as rock climbing, any form of racing, etc.
It will enable your family to continue to stay covered and avoid a policy lapse, despite your current financial situation. Bonus: The peace of mind you get knowing your family's financial future continues to remain secure despite this mishap is priceless. It may even help you recover soon!
Let's look at an example to understand:
Say, you took a term policy for 20 years but met with an accident in year 8.
With this rider, your premiums for the remaining 12 years are waived off but the policy benefit remains intact.
If you pass away in, say, year 14, your family will get the full life cover you chose.
Isn't this reason enough to opt for this rider?