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

Free Life Policy Provisions Options and Riders Practice Questions

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

Subtopics: Settlement options, Interest only, Life income, Automatic premium loan, Assignment, Spendthrift clause, Accelerated death benefit, Term conversion, Payor benefit, Return of premium, Family rider, Nonforfeiture, 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, 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 insurance settlement option that pays the beneficiary equal installments until the proceeds and interest are exhausted is the:

Fixed amount option

The fixed amount option pays set installments until the proceeds plus interest are used up.

2. Under the interest-only settlement option, the insurer:

Holds the proceeds and pays only the interest to the beneficiary

The interest-only option leaves the principal with the insurer and pays the beneficiary the interest earned.

3. The settlement option that guarantees an income the beneficiary cannot outlive is the:

Life income option

The life income option pays the beneficiary for life, so the income cannot be outlived.

4. The automatic premium loan provision helps prevent a policy from lapsing by:

Using available cash value to pay an overdue premium

The automatic premium loan uses available cash value to pay a premium that would otherwise go unpaid, preventing lapse.

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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.