Wow

Question 1

Pays some multiple of face amount if death is result of accident

Answer 1

Accidental death rider

Question 2

Must occur within how manydays of accident in accidental death rider

Answer 2

90

Question 3

Benefit is normally 2 times face amount

Answer 3

Double indemnity

Question 4

Hazardous hobbies health problem disability self inflected war not covered

Answer 4

Accidental death rider

Question 5

Pays principal face amount for accidental death and percentage of amount for accidental dismemberment

Answer 5

Accidental death and dismemberment rider

Question 6

Limited to half the face value and payable in event of loss of one hand arm leg eye

Answer 6

Capital amount

Question 7

Allows insured to purchase additional coverage at specified future dates without evidence of insurability for additional premium

Answer 7

Guaranteed insurability

Question 8

Expires at insureds age 40

Answer 8

Guaranteed insurability

Question 9

Alans policy contains both guaranteed insurability and waiver of premium rider
Three years later Alan totally permanently disabled
Ins waived and at specified times Alan may purchase

Answer 9

Additional amount of ins with premiums on those increases also waived

Question 10

Type of insurance used for return of premium rider

Answer 10

Increasing term

Question 11

Provides that at death prior to given age not only is original face amount payable but amount equal to all premiums paid is payable to beneficiary
Return expires at spec age such as

Answer 11

60

Question 12

Allow for addditional temp ins to be provided without new policy
Attached to whole life policy to provide greater protection at reduced cost

Answer 12

Term riders

Question 13

Terminal illness
Medical condition requiring intervention like transplant
Condition that limits insureds life
Inability to perform activities
Instiutionalization or confinement
Approved conditions by department of ins

Answer 13

Early payment benefits allowed in these conditions

Question 14

Typically a percentage of the face amount of insurance usually 50%

Answer 14

Maximum benefit

Question 15

Legal for insurer to pay up to what of death benefits before the insured dies

Answer 15

100%

Question 16

Provides for payment of part of policy death benefit if the insured is diagnosed with term illness that will result in death within two years

Answer 16

Living needs rider

Question 17

Purpose of this rider is to provide funds for nursing and medical expenses result of term illness. No charge for this rider since advance payment of death benefit. Payable at time of death

Answer 17

Living needs rider

Question 18

Early payment of part of death benefit to insured from insurer for qualifying medical expenses

Answer 18

Accelerated benefit

Question 19

Often purchased as separate policy/marketed as rider to ins policy

Answer 19

Long term care coverage

Question 20

Payable death benefit=

Answer 20

Face amount -amount withdrawn-earnings lost by insurer in interest

Question 21

100000 face amount
Due to term illness insured had to withdraw 30000 three years before death
Since amount was withdrawn company lost 300 interest
100000-30—-300

Answer 21

69700

Question 22

Addresses inflation by automatically increasing amount without evidence of insurability

Answer 22

Cost of living rider

Question 23

Face value may be increased by cost of living factor tied to an inflation index such as a

Answer 23

Consumer price index

Question 24

Triggered by policy surrender or lapse

Answer 24

Nonforfeiture options