Life Insurance Policy Provisions, Options, and Riders
Whom does a spouse or other-insured term rider cover, and for how long?
Answer and explanation
Answer: D. The rider attaches term insurance on a named additional life, usually the spouse, for a stated term and amount, and it commonly ends at a set age such as sixty-five. It does not cover the base insured and is not a joint or open-ended arrangement.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, spouse and other-insured rider
More life insurance policy provisions, options, and riders questions
- An insured with an accidental death and dismemberment rider loses the sight of both eyes in a covered accident. What does the rider ordinarily provide?
- An insured's health has deteriorated badly since issue. How does that affect the purchase of paid-up additions?
- An owner has relied on the automatic premium loan for several years running. What is the consequence?
- An owner stops paying premiums on a whole life policy and elects nothing. What does the policy generally do with the cash value?
- An owner takes a partial surrender in the fourth policy year of a universal life contract. What should be expected?
- An owner wants the original permanent insurance plan to continue for a smaller amount with no further premiums. Which nonforfeiture option fits?
621 New York questions like this one.
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