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

Free Life Policy Provisions Options and Riders Practice Questions

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

Subtopics: Interest-only option, Fixed-period option, Life income option, Accelerated death benefit, Spendthrift clause, Common disaster, Assignment, Payor rider, Return of premium, Convertible term, Per stirpes, Irrevocable beneficiary, 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, 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 settlement option under which the insurer keeps the death proceeds and pays only the earnings to the beneficiary is the:

Interest-only option

Under the interest-only option, the insurer retains the proceeds and pays the interest earned to the beneficiary.

2. A settlement option that pays the death benefit in equal installments over a chosen number of years is the:

Fixed-period option

The fixed-period option pays out the proceeds plus interest in equal installments over a selected number of years.

3. The settlement option that guarantees the beneficiary income for life, with payments ceasing at the beneficiary's death, is the:

Life income option

The life income settlement option pays the beneficiary for life based on life expectancy.

4. An accelerated death benefit rider allows the insured to:

Receive part of the death benefit early after a qualifying terminal illness

An accelerated death benefit lets a terminally ill insured collect part of the death benefit while still living.

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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.