Policy Riders, Provisions, Options, and Exclusions
What is the function of a payor benefit rider attached to a juvenile life insurance policy?
Answer and explanation
Answer: C. A payor rider waives juvenile policy premiums if the premium-paying adult dies or becomes disabled until the child reaches majority (e.g. age 21).Source: NAIC Life Insurance Guide — PDF page 6, Payor Benefit Rider
More policy riders, provisions, options, and exclusions questions
- A policyowner wants a lender to receive enough death proceeds to satisfy a loan balance. Which policy action may accomplish this?
- A policyowner wants disability protection on a flexible-premium universal life policy. Which rider most directly addresses the policy's recurring mortality charge?
- A policyowner wants level term coverage on a spouse under the owner's base life policy. Which rider is designed for that purpose?
- A policyowner's guaranteed insurability rider lists the birth of a child as an alternate option date. What may the owner generally do on that date?
- A producer describes a term rider added to a permanent life policy. Which statement avoids overstating what the rider provides?
- A proposed insured disclosed membership in the U.S. military on the application. Under the Compact standard, may the base policy exclude death solely as a result of war or military service?
590 Texas questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.