Policy Riders, Provisions, Options, and Exclusions
Which premium mode results in the lowest total annual premium outlay for a life policy?
Answer and explanation
Answer: C. Annual mode carries no modal service charges, producing the lowest overall annual cost compared to monthly or quarterly modes.Source: NY DFS Consumer FAQ — Premium Payment Modes
More policy riders, provisions, options, and exclusions questions
- What happens to life insurance proceeds if the primary beneficiary predeceases the insured, and a contingent beneficiary is named?
- What is the function of a payor benefit rider attached to a juvenile life insurance policy?
- What is the main purpose of a life policy's free-look period?
- What is the primary operational objective of an automatic premium loan (APL) provision?
- What restriction applies to an owner who names an irrevocable beneficiary?
- What right does a guaranteed insurability rider (GIR) grant to the policyowner?
590 Texas questions like this one.
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