Life & Health Chapter 8--8 Quiz

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1. For a Multiple Indemnity Rider to pay, the insured must die of an accident and within ______ days of the accident.

Explanation

In order for the Multiple Indemnity Rider to pay out, the insured must pass away within 90 days of the accident. This time frame is specified in the policy to determine eligibility for the rider benefits.

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About This Quiz
Life & Health Chapter 8--8 Quiz - Quiz

Explore key concepts of life and health insurance with Chapter 8 quiz, enhancing your understanding of insurance policies, coverage details, and regulatory compliance. This quiz is essential for... see morelearners aiming to excel in the insurance industry. see less

2. What rider permits the purchase of more insurance at selected future dates with no need to prove insurability?

Explanation

Guaranteed Insurable rider allows the insured to purchase more insurance at selected future dates without proving insurability. Free Riders, Riderless Guarantees, and Uninsurable Guarantor are not relevant terms in this context.

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3. Which rider provides a benefit that waives the premium on a Juvenile's Policy if the policy owner dies?

Explanation

The Payor Benefit rider is specifically designed to waive the premium on a Juvenile's Policy if the person who owns the contract dies, ensuring the policy remains in force for the child's benefit. The other options do not have the same purpose or function.

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4. A Family Policy is constructed with Whole Life and _________Term Riders.

Explanation

A Family Policy is constructed with Whole Life and Convertible Term Riders. Convertible term riders allow the policyholder to convert the term insurance to a permanent policy at a later date without the need for additional underwriting.

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5. Waiver of Premium Rider would waive the premium on a Life Policy if the owner is ___________and____________disabled.

Explanation

The correct answer specifies that the waiver of premium rider applies when the owner is permanently and totally disabled, ensuring that the premium will be waived under these specific conditions.

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6. What rider would double or triple the death benefit of a policy if the Policyowner/Insured is killed in an accident?

Explanation

The correct rider that doubles or triples the death benefit in case of accidental death is the Accidental Death and Dismemberment rider. This rider provides additional coverage specifically for accidental death or dismemberment events.

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7. The purchase of insurance at certain dates in the future with a Guaranteed Insurability Rider would result in premium based on the ________ age of the Insured.

Explanation

The term 'Attained' age refers to the age of the insured at the time they obtain the insurance, which affects the premium calculation based on their current age.

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For a Multiple Indemnity Rider to pay, the insured must die of an...
What rider permits the purchase of more insurance at selected future...
Which rider provides a benefit that waives the premium on a Juvenile's...
A Family Policy is constructed with Whole Life and _________Term...
Waiver of Premium Rider would waive the premium on a Life Policy if...
What rider would double or triple the death benefit of a policy if the...
The purchase of insurance at certain dates in the future with a...
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