California Insurance License Exam Practice Test Practice Question
The accidental death benefit rider is also known as
Correct Answer: B
Rationale: The accidental death benefit rider is commonly referred to as double indemnity, which means that if the insured dies due to an accident, the policy pays out double the face value.
Option A, incontestability, refers to a clause that prevents insurers from disputing a policy after a certain period. Option C, waiver of premium, allows the insured to skip premium payments if they become disabled. Option D, guaranteed insurability, permits policyholders to purchase additional coverage without medical underwriting. Each of these terms represents different features of insurance policies, not the accidental death benefit rider.
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