Life Insurance Policy Provisions, Options, and Riders
A spouse rider is about to end at the stated age. What does the conversion feature ordinarily allow?
Answer and explanation
Answer: A. These riders normally carry a conversion right exercisable without new evidence of insurability, so the spouse can move to a permanent policy at attained age rates as the rider expires. Requiring evidence would defeat the purpose of the feature.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, spouse rider conversion
More life insurance policy provisions, options, and riders questions
- What follows from naming the insured's estate, rather than a person, as the beneficiary of the policy?
- What happens to a spouse or other-insured term rider if the base insured dies first?
- What happens to dividends left with the insurer under the accumulation at interest option?
- What is fixed and what varies under the fixed-amount settlement option?
- What is fixed and what varies under the fixed-period settlement option?
- What is the function of a payor benefit rider attached to a juvenile life insurance policy?
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