Life Policy ProvisionsQuestion 557 of 716
The payor benefit rider on a juvenile life policy provides that, if the premium-paying adult dies or becomes disabled:
a.The child's coverage terminates immediately and the insurer refunds the premiums that had been paid to date
b.The policy automatically converts to term insurance
c.The death benefit is paid at once to the child
d.Premiums are waived until the child reaches a specified age
Explanation
The payor benefit waives premiums on a child's policy if the paying adult dies or is disabled, keeping the coverage in force until the child reaches a stated age. Coverage does not end, and no death benefit is paid on the child who is still alive.
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Related questions on this topic
- Naming one's estate as the life insurance beneficiary can be disadvantageous because the proceeds may then be:
- A spendthrift clause attached to a life insurance settlement is designed to:
- The waiver of premium rider typically begins paying the policy's premiums only after:
- An accidental death benefit (double indemnity) rider generally pays the extra benefit only if death:
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PrepPass team · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)