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

Free Life Policy Provisions Options and Riders Practice Questions

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

Subtopics: Assignment, Dividends, Accelerated benefit, Term conversion, Child rider, Return of premium, Policy loan interest, Ownership rights, Other insured rider, Nonforfeiture purpose, Interest settlement option, Cost-of-living rider, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, 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, 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. A life policy provision that lets the owner transfer ownership rights to another party is:

The assignment provision

The assignment provision allows the policyowner to transfer ownership rights to another party.

2. Policy dividends paid on a participating whole life policy are generally treated as:

A return of premium previously overcharged

Dividends from a participating policy are generally considered a return of overcharged premium and are not taxable income.

3. A rider that lets a terminally ill insured access part of the death benefit while still living is the:

Accelerated (living) benefit rider

The accelerated death benefit rider lets a terminally or chronically ill insured receive part of the benefit early.

4. A convertible term policy allows the insured to:

Change to permanent coverage without proving insurability

A conversion privilege lets the insured switch term coverage to permanent without new evidence of insurability.

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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.