Free Life Policy Provisions Options and Riders Practice Questions
Montana Life, Accident & Health exam — 104 practice questions.
Subtopics: Policy loan, Interest-only option, Life income option, Accelerated death benefit, Term conversion, Assignment, Beneficiary change, Payor rider, Return of premium, Spendthrift clause, Exclusions, Fixed-period option, Grace period, Incontestability, Entire contract, Misstatement of age, Reinstatement, Death claims, Suicide, Policy loans, Lapse notice, Replacement, Solicitation, Policy provisions, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Dividend options, Riders, Incontestable clause, Suicide clause, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider, War exclusion, Aviation and avocation exclusions, Dividends, Accelerated benefits, Premium modes, Free look, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. The policy loan provision in a permanent life policy lets the owner:
borrow against the policy's available cash value
The policy loan provision lets the owner borrow against the policy's available cash value.
2. Under the interest-only settlement option, the insurer:
Holds the proceeds and pays interest to the beneficiary
Under the interest-only option the insurer holds the proceeds and pays interest to the beneficiary.
3. A life income settlement option pays the beneficiary:
Payments for the rest of the beneficiary's life
The life income option pays the beneficiary an income for the remainder of their life.
4. An accelerated death benefit rider generally allows:
A terminally ill insured to receive part of the benefit early
An accelerated death benefit rider lets a terminally ill insured receive part of the death benefit while living.
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Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
