Policy Riders, Provisions, Options, and Exclusions
When an increasing term rider is added to a whole life policy to provide a return-of-premium death benefit, what does the total benefit equal at death?
Answer and explanation
Answer: A. A return-of-premium rider uses increasing term to pay the base face amount plus total premiums paid upon death.Source: NAIC Term Life Guide — PDF page 4, ROP Rider
More policy riders, provisions, options, and exclusions questions
- A universal life policy carries a waiver of monthly deduction rider. How does that rider differ from a standard waiver of premium rider?
- A variable life owner takes a policy loan and leaves it outstanding. Which effect should the owner expect?
- A waiver of premium rider is in force and the insured becomes totally disabled. What does the rider do once the waiting period has been satisfied?
- A whole life owner needs extra protection only while a business loan is outstanding. Which addition most directly fits that limited-duration need?
- After a Texas life policy has been in force for 2 years during the lifetime of the insured, under what condition can the insurer contest a claim?
- An accidental death benefit (double indemnity) rider pays an additional death benefit under what circumstance?
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