Life Insurance Policy, Riders Etc

A whole life insurance policy accumulates cash value that becomes

Which of the following is a reinstatement condition?

The free-look provision gives the policyowner

Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy?

A policyowner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due?

A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. Which rider would pay a monthly amount because of this disability?

Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue?

Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires,

The suicide clause of a life insurance policy states that if an insured commits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid

Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n)

Which of these is considered to be a Living Benefit option in a life insurance policy?

If an insured dies during the grace period with no premiums paid

What is an insurance policy's grace period?

When a life insurance policy is surrendered, how does the cost recovery rule apply?

When does a life insurance policy's waiver of premium take effect?

All of these are valid policy dividend options for a life insurance policyowner EXCEPT

Which of these would limit a company's liability to provide insurance coverage?

Which of the following is NOT a common life insurance policy rider?

Pat owns a 20-pay life policy with a paid-up dividend option. Which of the following statements is true?

A provision in a whole life policy that allows a policyowner to terminate the policy in return for a reduced paid-up policy of the same type is called a(n)

An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if