Policy Riders, Provisions, Options, and Exclusions
What benefit does a return of premium (ROP) term rider provide if the insured survives to the end of the term?
Answer and explanation
Answer: B. ROP riders refund total premiums paid if the insured survives the term, using increasing term insurance to fund the feature.Source: NAIC Life Insurance Guide — PDF page 6, Return of Premium
More policy riders, provisions, options, and exclusions questions
- 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?
- Which list contains common life insurance premium payment modes?
- Which party holds the exclusive right to borrow against policy cash values or request nonforfeiture options?
- Which premium mode results in the lowest total annual premium outlay for a life policy?
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