Policy Riders

Question 1

For a policy insuring the life of a child, which of the following allows the premiums to be waived in the event of the death or disability of the person responsible for premium payments?

Answer 1

Payor benefit

Question 2

What happens to the death benefit if a portion has been paid out under an accelerated (living) benefit rider?

Answer 2

The benefit will be reduced by the amount paid plus interest lost by the insurer

Question 3

which rider allows both spouse and children to be added to the primary insured’s coverage

Answer 3

Family term rider

Question 4

Which rider would allow the purchase of additional insurance at specified dates or events, without evidence of insurability?

Answer 4

Guaranteed insurability

Question 5

The cost of living rider is intended to

Answer 5

Adjust the death benefit for inflation

Question 6

Hailey has a policy that contains a waiver of premium rider. She becomes disabled for two years, during which time the insurer pays 400$ in premiums. Hailey recovers and now must.

Answer 6

Begin paying premiums as they become due