An accelerated death benefit
pays an additional benefit if the policyholder dies as a result of an accident.
allows the policyowner to sell their policy to a third party.
pays a portion of the face amount when a policyowner Is determined to be terminally ill.
pays only in the event of an accident resulting in death.
Reinsurers are a specialized branch of the insurance industry because they
provide insurance to otherwise uninsurable individuals.
provide alternative means.
Insure insurers.
keep premiums low.
The accumulated cash value of a whole life insurance policy becomes the
policy loan value upon which the insured may borrow.
amount used to purchase paid up additions to the insured's policy.
funds used to offset policy administration and conversion expenses.
face amount payable upon the insured's death.
Which of the following is TRUE of a payor benefit rider?
Waives premiums on a Juvenile policy if the policyowner becomes totally disabled or dies.
Pays a monthly income to the policyowner if the insured is totally disabled.
Waives policy premiums if the insured becomes totally disabled.
Increases the value of the policy if the policyowner dies.