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  2. Arizona
  3. Life, Accident & Health
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

Arizona Life, Accident & Health exam — 49 practice questions.

Subtopics: Grace period, Reinstatement, Nonforfeiture options, Automatic premium loan, Settlement options, Waiver of premium rider, Accidental death rider, Guaranteed insurability, Child rider, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Policy loans, Dividend options, Riders, Incontestable clause, Suicide clause, Misstatement of age, 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

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. The grace period in a life insurance policy:

Allows a late premium to be paid while coverage continues

During the grace period a premium may be paid late without the policy lapsing.

2. The reinstatement provision in a life policy allows a lapsed policy to be restored if the owner:

Pays back premiums with interest and provides evidence of insurability within the allowed time

Reinstatement generally requires payment of back premiums with interest and proof of insurability within the allowed period.

3. A nonforfeiture option in a whole life policy lets an owner who stops paying premiums:

Choose cash surrender, reduced paid-up, or extended term values

Nonforfeiture options protect built-up value through cash surrender, reduced paid-up insurance, or extended term insurance.

4. The automatic premium loan provision:

Uses available cash value to pay an overdue premium and prevent lapse

An automatic premium loan draws on cash value to cover an unpaid premium and keep the policy in force.

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Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.