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

Free Life Policy Provisions Options and Riders Practice Questions

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

Subtopics: Beneficiary classes, Contingent beneficiary, Per stirpes, Spendthrift clause, Common disaster clause, Dividend options, Cash dividend option, Accelerated death benefit, Return of premium rider, Child term rider, Convertible term, Assignment, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, 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

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. A beneficiary who is first in line to receive life insurance proceeds is called the what?

Primary beneficiary

The primary beneficiary has the first right to the proceeds; a contingent beneficiary receives them only if the primary predeceases.

2. A contingent beneficiary receives the death benefit under what circumstance?

Only if the primary beneficiary is not living to receive it

The contingent beneficiary receives proceeds only when the primary beneficiary cannot, typically due to predeceasing the insured.

3. A per stirpes beneficiary designation generally directs that a deceased beneficiary's share pass to whom?

That beneficiary's descendants

Under a per stirpes designation, the share of a deceased beneficiary passes to that beneficiary's living descendants.

4. A spendthrift clause in a settlement option is designed to do what?

Protect proceeds from a beneficiary's creditors before payment

A spendthrift clause restricts a beneficiary from assigning future installment proceeds and shields them from creditors before payment.

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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.