Life Insurance Policy Provisions, Options, and Riders
What does a family term rider add to a base life insurance policy?
Answer and explanation
Answer: B. A family rider combines the spouse and children's coverages in one attachment, usually with a larger amount on the spouse than on each child. Cover on one of those groups alone is what the separate spouse and children's riders provide.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, family term rider
More life insurance policy provisions, options, and riders questions
- Which three nonforfeiture options does a permanent policy customarily make available?
- Who exercises the rights a New York life policy confers, where the owner is not the insured?
- Who may elect a settlement option other than cash payment, and when may that election be made?
- Whom does a spouse or other-insured term rider cover, and for how long?
- Why does a life income option pay a younger payee less each month than an older payee for the same proceeds?
- Why does the one-year term dividend option produce more death benefit per dividend dollar than paid-up additions?
621 New York questions like this one.
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