Life Policy ProvisionsQuestion 174 of 315
The Guaranteed Insurability rider (GIR) primarily allows the insured to do which of the following?
a.Receive a refund of premiums at the policy's tenth anniversary
b.Convert the policy to an annuity at retirement
c.Borrow additional cash value without interest
d.Buy additional life insurance at specified ages or events without evidence of insurability
Explanation
A Guaranteed Insurability rider gives the insured option dates (often every three years up to a certain age) and life events (such as marriage or birth of a child) on which additional permanent life insurance can be purchased without new medical underwriting.
Law Reference: Cal. Ins. Code §10271Practice all 315 questions free — no signup required.
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