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

Free Life Policy Provisions Options and Riders Practice Questions

Connecticut Life, Accident & Health exam — 52 practice questions.

Subtopics: Assignment, Nonforfeiture, Settlement options, Automatic premium loan, Spendthrift clause, Exclusions, Collateral assignment, Accelerated death benefit, Child rider, Return of premium, Cost of living rider, Convertible term, Standard provisions, Beneficiaries, Beneficiary clauses, Nonforfeiture options, Policy loans, Dividend options, Riders, Grace period, Reinstatement, 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, 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 assignment provision of a life insurance policy allows the policyowner to:

Transfer ownership rights to another party

The assignment provision lets the owner transfer some or all policy rights to another party.

2. Nonforfeiture values in a permanent life policy guarantee that the owner will not lose the:

Accumulated cash value if the policy lapses or is surrendered

Nonforfeiture provisions protect the owner's accumulated cash value when a policy lapses or is surrendered.

3. A settlement option in a life policy determines how the:

Death proceeds are paid to the beneficiary

Settlement options govern how the death proceeds are paid out, such as lump sum or installments.

4. The automatic premium loan provision prevents a whole life policy from lapsing by:

Using available cash value to pay an overdue premium

The automatic premium loan uses available cash value to pay 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.