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
Basidiomycetes Life Cycle
Thangka depicting Bhavacakra (Wheel of Life), Bhutan.
Life of a Midlatitude Cyclone
Simplified view of retrovirus life cycle
Life cycle of a club fungus having two mating strains of hyphae
Life cycle of Obelia, a hydrazoan that has alternating medusa (left) and polyp generations