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

Free Life Policy Provisions Options and Riders Practice Questions

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

Subtopics: Policy loan, Interest-only option, Life income option, Accelerated death benefit, Term conversion, Assignment, Beneficiary change, Payor rider, Return of premium, Spendthrift clause, Exclusions, Fixed-period option, 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. The policy loan provision in a permanent life policy lets the owner:

borrow against the policy's available cash value

The policy loan provision lets the owner borrow against the policy's available cash value.

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

retains the proceeds and pays interest to the beneficiary

Under the interest-only option the insurer holds the proceeds and pays interest to the beneficiary.

3. A life income settlement option pays the beneficiary:

guaranteed payments for the rest of the beneficiary's life

The life income option pays the beneficiary an income for the remainder of their life.

4. An accelerated death benefit rider generally allows:

a terminally ill insured to access part of the death benefit while living

An accelerated death benefit rider lets a terminally ill insured receive part of the death benefit while 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 Pennsylvania Insurance Department and the exam administrator before relying on it.