Insurance Riders True or False

The rider that will pay a multiple of the face amount if the insured dies of terminal illness is the accidental death rider

FALSE

The waiver will begin from the first day of disability

FALSE

This childrens term rider will not add coverage for step - children nor legally adopted children

FALSE

Under the accidental death rider, deaths that result from self inflicted injury or war will be covered

FALSE

Waiver of cost of insurance waives the cost of premiums necessary to accumulate cash value

FALSE

Guaranteed insurability rider requires evidence of insurability to purchase additional coverage

FALSE

Living needs rider provides funds to pay medical expenses at any time

FALSE

Long term care rider pays part of the death benefit of a life policy before death to help pay for care in nursing or convalescent home. This benefit does not reduce the face amount of the policy

FALSE

Children term rider will add children to parent policy for a limited amount of time and for a specified amount

TRUE

Disability income rider forgives the premiums while the insured is disabled

TRUE

Disability income rider pays an additional weekly to monthly benefit to the insured while disabled

TRUE

Guaranteed Insurability rider will allow the insured to purchase additional coverage at specified future dates or events

TRUE

The family term rider incorporates the spousal term rider and the childrens term rider in a single term rider

TRUE

The payer benefit rider can be added to a juvenile policy

TRUE

The payer benefit rider will be waive the premium if the payer of the premium dies or becomes disabled

TRUE

Waiver of cost of insurance is used in conjunction with universal life

TRUE

Waiver of premium rider waive the premium while the insured is disabled

TRUE

Spouse term rider allows the spouse to be added to a policy until age 100

FALSE

The COLA rider will increase but never decrease the face value by a cost of living index

FALSE