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

Free Life Policy Provisions Options and Riders Practice Questions

Michigan Life, Accident & Health exam — 48 practice questions.

Subtopics: Grace period, Incontestability, Waiver of premium, Accelerated death benefit, Nonforfeiture, Settlement option, Beneficiary, Suicide clause, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders, Reinstatement, Incontestable 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. The period allowing late premium payment without a life policy lapsing is the:

Grace period

The grace period lets the owner pay an overdue premium without the policy lapsing.

2. A life policy generally becomes incontestable for misstatements after it has been in force:

2 years

The incontestability provision generally bars contest after two years in force during the insured's life.

3. The waiver of premium rider keeps a policy in force when the insured is:

Totally disabled

Waiver of premium continues coverage without premiums during qualifying total disability.

4. An accelerated death benefit allows early payment of part of the face amount upon:

A qualifying terminal illness

An accelerated death benefit pays part of the face amount early for a qualifying terminal illness.

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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.