Policy Riders, Provisions, Options, and Exclusions
An insured wants a benefit that supplies income after a qualifying total disability rather than merely waiving policy charges. Which rider most directly fits?
Answer and explanation
Answer: C. A disability income rider provides monthly income during a qualifying total disability after an initial waiting period. A waiver rider instead keeps coverage in force by waiving premiums or charges; it does not provide the same monthly income benefit.Source: New York State Department of Financial Services — Life Insurance Information for Consumers — Optional Riders & Supplemental Benefits > Disability Income
More policy riders, provisions, options, and exclusions questions
- 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?
- An insured understated her age by 5 years on the application. At death, the insurer discovers the misstatement. How does the insurer handle the claim?
- An insured whose policy carries a standard aviation exclusion dies as a fare-paying passenger on a scheduled commercial airline. What does the insurer ordinarily pay?
- An insured with an accidental death and dismemberment rider loses the sight of both eyes in a covered accident. What does the rider ordinarily provide?
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