Life provisions

P is blinded in an industrial accident. Which provision of his life insurance policy will pay a stated benefit amount?

Accidental Death and Dismemberment clause

What action will ensure take if an interest payment on a policy loan is not made on time

Automatically add the amount of interest due to the loan balance

The automatic premium loan at provision is designed to

avoid a policy lapse

A long-term care rider in a Life insurance policy pays a daily benefit in the event of which of the following

Inability of the insured to perform more than 2 Activities of Daily Living (ADL's)

which of these are not an example of nonforfeiture option

Life Income

Which statement is true in regards to a policy loan

Past-due interest on a policy loan is added to the total debt

Which of the following provisions guarantees that premiums will be waived if a juvenile life policy owner becomes disabled

Payor clause

what benefit does payor clause on a Juvenile life policy provide?

Premiums are waived if payor becomes disabled

Which of these Nonforfeiture Options continue a build-up of cash value?

Reduced Paid-Up

When does a guaranteed insurability rider allow the insured to buy additional coverage

at future dates specified in the contract with no evidence of insurability required

Which of these actions is taken when I policy owner uses a life insurance policy as a collateral for a bank loan

collateral assignment

The incontestable clause allows an insurer to

contest a claim during the contestable period

Which of the following types of policies may not have the automatic premium loan provision attached to it

decreasing term

which of the following nonforfeiture Options offer the highest death benefit

extended term option

M has an insurance policy that also has an outstanding policy loan at the time of M's death. The insurer will deduct the outstanding loan balance from the

policy proceeds

What is the suicide provision design to do?

safeguard the insurer from an applicant who is contemplating suicide

D was actively serving in the Marines when he was killed in an automobile accident while on leave. His 100,000 whole life policy contains a war exclusion clause. How much will D's beneficiary receive?

the full face amount

A whole life insurance policy owner does not have the right to

change the grace period

The ______ Has the right to change a life insurance policies beneficiary

The policy owner

L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers that L had understated her age on the application. Under the misstatement of age provision, the insurer will:

adjust the death benefit to a reduced amount