All of the following are requirements that must be satisfied before premiums are waived under a waiver-of-premium provision EXCEPT
A) The insured must furnish proof of disability to the insurer.
B) The insured must be disabled before some specified age, such as age 60 or 65.
C) The insured must satisfy the definition of disability.
D) The insured must satisfy a 2-year waiting period.
Question 2
Which of the following statements about the waiver-of-premium provision in life insurance is true?
A) Because the probability of becoming disabled exceeds the probability of premature death, the cost to include this provision is usually prohibitive at younger ages.
B) Premiums are usually waived if the insured becomes partially disabled.
C) Life insurance protection continues in force during a period of disability, but dividends cease and cash values are reduced.
D) The disability must occur before a stated age, such as 65, for premiums to be waived.
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