Policy Riders, Provisions, Options, and Exclusions
How does a long-term care (LTC) rider attached to a life policy fund care expenses?
Answer and explanation
Answer: A. LTC riders accelerate the base policy death benefit to cover nursing home, assisted living, or home health care costs.Source: NAIC Life Insurance Guide — PDF page 6, LTC Rider
More policy riders, provisions, options, and exclusions questions
- Which beneficiary designation generally allows the owner to make a change without the beneficiary's consent?
- Which description best identifies the coverage supplied by a term rider?
- Which dividend option allows a participating policyowner to purchase additional small paid-up permanent coverage without evidence of insurability?
- Which exchange describes consideration in a life insurance contract?
- Which key details are summarized in the policy face page and insuring clause?
- Which life policy exclusion addresses death caused by hazards of the insured's specifically identified job?
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