Policy Riders, Provisions, Options, and Exclusions
What dual protection does a disability income rider provide when attached to a life insurance policy?
Answer and explanation
Answer: D. Disability income riders combine premium waiver with a monthly income payout (e.g., 1% of face amount per month) during total disability.Source: NAIC Life Insurance Guide — PDF page 6, Disability Income Rider
More policy riders, provisions, options, and exclusions questions
- A flexible-premium life policy has lapsed and the owner applies for reinstatement within the contractual period. Which combination may the insurer require?
- A flexible-premium policyowner pays the illustrated planned premium, but policy value later becomes insufficient for the monthly deduction. Which conclusion is most accurate?
- A governing beneficiary instrument expressly states how to distribute proceeds after simultaneous deaths. How does that fact affect Texas's default survival rules?
- A grandparent buys a juvenile life policy on a 5-year-old grandchild with a payor benefit rider. The grandparent dies 3 years later. What occurs regarding policy premiums?
- A life policy contains a status-type war exclusion and the insured, a service member, dies of an illness while stationed overseas in peacetime. How does the exclusion operate?
- A parent pays premiums on a juvenile life policy and dies before the insured child reaches majority. If the policy has a payor benefit rider and its conditions are met, what happens next?
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