LESSON 3: LIFE INSURANCE POLICIES, PROVISIONS, OPTIONS AND RIDERS

Section 3.7 Review

The policyholder assumes the investment risk in variable insurance products.

	a)	True
	b)	False
CORRECTTRY AGAIN (Lesson 3.7.1)Your answer has been saved.

Adjustable life policies combine term and permanent insurance with whole life insurance as the base policy.

	a)	True
	b)	False
CORRECTTRY AGAIN (Lesson 3.7.2)Your answer has been saved.

Universal Life

Universal life policies include additional death benefit guarantees offered by many insurers.

a)	Pays a multiple of the death proceeds if the cause of death is a covered accidental event.	Choose... Accelerated benefit rider Accidental death benefit rider Additional insured rider No-lapse guarantee rider Children's insurance rider
b)	Guarantees a death benefit for life so the insured is covered even if premium payments lapse.	Choose... Accelerated benefit rider Accidental death benefit rider Additional insured rider No-lapse guarantee rider Children's insurance rider
c)	Pays a portion of the death benefit if the insured is diagnosed with a terminal illness.	Choose... Accelerated benefit rider Accidental death benefit rider Additional insured rider No-lapse guarantee rider Children's insurance rider
d)	Provides a death benefit on the lives of family members.	Choose... Accelerated benefit rider Accidental death benefit rider Additional insured rider No-lapse guarantee rider Children's insurance rider
e)	Extends a death benefit to the insured's child (up to age 25).	Choose... Accelerated benefit rider Accidental death benefit rider Additional insured rider No-lapse guarantee rider Children's insurance rider
a) Accidental death benefit rider b) No-lapse guarantee rider c) Accelerated benefit rider d) Additional insured rider e) Children's insurance rider (Lesson 3.7)