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

Free Life Policy Provisions Options and Riders Practice Questions

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

Subtopics: Automatic premium loan, Extended term option, Spendthrift clause, Common disaster clause, Term conversion, Family rider, Cost of living rider, Return of premium rider, Accelerated death benefit, Payor benefit rider, Interest only option, Fixed period option, Standard provisions, Assignment, 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, Child term rider

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. An automatic premium loan provision in a whole life policy:

Uses cash value to pay a premium that would otherwise lapse

The automatic premium loan uses available cash value to pay an overdue premium and prevent unintended lapse.

2. The extended term nonforfeiture option converts cash value into:

Term insurance of the same face amount for a limited period

Extended term insurance uses the net cash value to buy paid-up term coverage equal to the original face for as long as it will last.

3. A spendthrift clause in a life policy protects:

Settlement proceeds from a beneficiary's creditors to a degree

A spendthrift clause restricts a beneficiary's ability to assign proceeds and shields them, within limits, from creditors.

4. A common disaster provision addresses what situation?

The insured and primary beneficiary die in the same event

A common disaster clause governs payment when the insured and primary beneficiary die in the same event close in time.

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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.