Policy Riders, Provisions, Options, and Exclusions
A policyowner wants level term coverage on a spouse under the owner's base life policy. Which rider is designed for that purpose?
Answer and explanation
Answer: A. A spouse rider adds level term coverage on the spouse under the base policy and commonly includes a conversion privilege. The other riders serve inflation, disability, or premium-refund purposes.Source: New York State Department of Financial Services — Life Insurance Information for Consumers — Optional Riders & Supplemental Benefits > Spouse Rider
More policy riders, provisions, options, and exclusions questions
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- An insured dies by suicide during the policy's valid initial suicide exclusion period. What minimum settlement does the Compact standard require?
- An insured dies during a Texas policy's two-year contestable period. The insurer discovers a material false application statement. What may the insurer do?
- An insured dies on day 20 of a policy's 31-day grace period with an overdue premium. What benefit does the beneficiary receive?
- An insured exercises a guaranteed insurability option after adopting a child. Which premium basis generally applies to the newly purchased coverage?
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