Life Insurance Policy Provisions, Options, and Riders
What happens to a spouse or other-insured term rider if the base insured dies first?
Answer and explanation
Answer: A. The rider depends on the base policy, so it terminates when that policy pays out, and the additional insured is usually given a right to convert to a policy of their own. The rider is not itself a claim on the base insured's death and is not simply continued.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, other-insured rider and death of base insured
More life insurance policy provisions, options, and riders questions
- How does a cost of living (COLA) rider adjust policy coverage over time?
- How does a joint and survivor life income differ from a joint life income?
- How does a long-term care (LTC) rider attached to a life policy fund care expenses?
- How does a partial withdrawal differ from a policy loan on a universal life policy?
- How does a survivorship clause in a common disaster provision operate?
- How does an automatic premium loan come to apply to a policy?
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