Life Insurance Policy Provisions, Options, and Riders
How is a children's term rider ordinarily priced and applied?
Answer and explanation
Answer: C. The rider charges a single flat premium for level term cover on all the insured's children, and children born or adopted after issue come within it without an increase. Per-child pricing and restrictions to the eldest child are not how it is written.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, children's term rider
More life insurance policy provisions, options, and riders questions
- What right does a guaranteed insurability rider (GIR) grant to the policyowner?
- What role does proof of death play in a New York life claim?
- When an increasing term rider is added to a whole life policy to provide a return-of-premium death benefit, what does the total benefit equal at death?
- When does a spendthrift clause stop protecting proceeds from the beneficiary's creditors?
- 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?
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