12.1b

Question 1

The ______ provides monthly income that is paid to the insured if total and permanent disability occurs. Typically, a waiting period is required to ensure eligibility, but after, monthly income is paid to the insured for the length of the disability. A ______ (policy premium is paid by the insurer) is also generally added to the policy during the length of the disability.

Answer 1

Disability Income Rider

waiver of premium

Question 2

The ______ is often attached to a juvenile insurance policy. If a guardian who is responsible for paying premiums for a child’s insurance dies or becomes disabled, this rider will ______ until the child reaches a certain age (which is often from the ages of 21 to 25), or the guardian is once again able to make payments.

Answer 2

Payor Rider

waive all premiums

Question 3

The ______, also known as an ‘insurance protection’ rider or an ‘option to purchase other insurance,’ it allows a policyowner with a whole life policy to purchase specified amounts of additional insurance at specified intervals during his or her coverage without ______.

Answer 3

Guaranteed Insurability Rider

providing proof of insurability

Question 4

Concerning the Guaranteed Insurability Rider, these intervals start on a policy’s anniversary date coinciding with the policyowner’s 25th birthday, and increases to a policy’s face amount can be added every ______ thereafter until the policyowner turns age 40.

Answer 4

three (3) years

Question 5

The ______ is purchased by a policyowner as an added benefit for the policy’s beneficiary upon the death of the insured, if he or she dies within a certain period of time, as defined in the policy.

Answer 5

Return of Premium Rider

Question 6

In adding the Return of Premium rider, the beneficiary not only receives the face amount of the policy, but also all ______; however, premiums paid are not actually refunded, but instead a separate increasing term policy is purchased with the extra premium required by the rider upon purchasing the intended whole or term life policy.

Answer 6

premiums paid into the policy up to the death of the insured

Question 7

A return of premium rider should not be confused with a return of premium (ROP) term life policy. While a return of premium rider provides extra benefits to the beneficiary upon the death of the insured, an ROP term life policy provides extra benefits to the ______.

Answer 7

policyowner upon the survival of the insured