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Author Question: Becky is considering the purchase of a whole life policy on her own life. She is concerned that if ... (Read 75 times)

nmorano1

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on: Jul 11, 2018
Becky is considering the purchase of a whole life policy on her own life. She is concerned that if she becomes disabled, paying premiums will become a burden.
 
  Which provision can Becky attach to her life insurance policy to address this concern?
  A) guaranteed purchase option
  B) waiver-of-premium provision
  C) accidental death benefit rider
  D) accelerated death benefits rider

Question 2

Cal purchased a whole life policy 6 years ago. The policy requires annual premium payments.
 
  Cal forgot to pay the premium that was due 2 weeks ago. He wonders if his life insurance is still in force. Which life insurance policy provision is designed to keep the policy in force for a short time even if the premium payment is late?
  A) waiting period
  B) grace period
  C) guaranteed purchase option
  D) reinstatement clause


Ptupou85

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: B

Answer to Question 2

Answer: B


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