Life Policy ProvisionsQuestion 175 of 315
An accelerated benefit rider on a life insurance policy generally allows which of the following?
a.Receipt of all premiums paid as a refund at age 65
b.Doubling of the death benefit at age 70
c.Advance payment of a portion of the death benefit if the insured is diagnosed with a qualifying terminal or chronic illness
d.Free withdrawal of cash value with no impact on the death benefit
Explanation
An accelerated benefit (living benefit) rider lets the insured receive an advance on part of the policy's death benefit when diagnosed with a qualifying terminal, chronic, or sometimes critical illness as defined in the rider. The remaining death benefit at death is reduced accordingly.
Law Reference: Cal. Ins. Code §10295.1Practice all 315 questions free — no signup required.
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