Chapter 4
A father owns a life insurance policy on his 15 year old daughter. The policy contains the optional payor benefit rider. If the father becomes disabled, what will happen to the life insurance premiums?
The insured's premiums will be waived until she is 21
Which of the following is TRUE about nonforfeiture values
They are required by state law to be included in the policy
The Ownership provision entitles the policyowner to do all of the following except
set premium rates
Which of the following riders would NOT cause the Death Benefit to increase
Payor Benefit Rider
When a whole life policy lapses or is surrendered prior to maturity, the cash value can be used to
Purchase a single premium policy for a reduced face amount from that of the former policy
