Question 2002 of 287 · Texas Life, Accident and Health Agent Exam

A guaranteed insurability rider allows the insured to

Exactly one answer is correct.

Aconvert a term policy into a whole life policy at the same premium rate as before
Bincrease the premium payments in exchange for a longer grace period on the policy
Creceive a monthly income payment if the insured can no longer work because of illness, at the discretion of the company
Dpurchase additional coverage at specified dates or events without evidence of insurability

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Correct answer to question 2002

D: purchase additional coverage at specified dates or events without evidence of insurability

Explanation

This option is often exercised at ages such as 25, 28, 31 or at marriage or birth of a child. The premium for the new coverage is based on the insured's attained age at the time of purchase.

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
2008A long-term care rider on a life policy allows the owner to

A guaranteed insurability rider allows the insured to

Correct answer to question 2002

Explanation

More questions: Life: Riders, Provisions, Options and Exclusions