Life Insurance Policy Provisions, Options, and Riders
An insured dies with dividends accumulated at interest still on deposit. What does the beneficiary receive?
Answer and explanation
Answer: A. The deposit belongs to the policy, so it is paid to the beneficiary on top of the face amount. The insurer does not keep it, and it is not diverted to the estate or substituted for the face amount.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, accumulation at interest at death
More life insurance policy provisions, options, and riders questions
- A young couple with three children want the whole household covered at modest cost under one contract. Which rider fits?
- Against what does an owner borrow when taking a policy loan?
- An accidental death benefit (double indemnity) rider pays an additional death benefit under what circumstance?
- An insured and the primary beneficiary die in the same accident and the common disaster clause applies. Where do the proceeds go?
- An insured applies to accelerate the death benefit. What must the insurer do before paying under section 3230?
- An insured becomes totally disabled and holds a waiver of cost of insurance rider. When does the waiver ordinarily begin?
621 New York questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.