Question 2001 of 287 · Texas Life, Accident and Health Agent Exam
A waiver of premium rider on a life policy provides that
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Correct answer to question 2001
- B: premiums are waived while the insured is totally disabled, after a waiting period
Explanation
The rider keeps the policy in force without premium payments if the insured meets the policy definition of total disability, usually after a six-month waiting period. The waived premiums are not repaid by the insured.
More questions: Life: Riders, Provisions, Options and Exclusions
- 2002A guaranteed insurability rider allows the insured to
- 2003A payor benefit rider is most often attached to a policy on
- 2004An accidental death benefit rider pays the additional amount if
- 2005Accidental death and dismemberment (AD&D) coverage pays the principal sum for
- 2006A cost-of-living rider on a life insurance policy provides
- 2007An 'other insureds' rider is used to