Life D(BCD) Provision, Riders a and modifications

Question 1

The _____________ is the person or interest to which the policy proceeds will be paid upon the death of the insured.

Answer 1

beneficiary

Question 2

The _____________ may be a person, class of persons
(sometimes used with children of the insured), the insured’s estate, or an
institution or other entity such as a foundation, charity, corporation or trustee of a
trust.

Answer 2

beneficiary

Question 3

______________, meaning by the head, evenly

distributes benefits among the living named beneficiaries.

Answer 3

Per Capita

Question 4

___________, meaning by the bloodline, distributes the benefits of a beneficiary who died before the
insured to that beneficiary’s heirs.

Answer 4

Per Stirpes

Question 5

_____________ beneficiaries have a vested
interest in the policy; therefore, the policy owner may not exercise certain rights without the consent of the beneficiary

Answer 5

Irrevocable

Question 6

The _____________ rider waives the premium for the policy if the insured becomes totally disabled.

Answer 6

waiver of premium