New Jersey Life Insurance Exam Practice Question
Which rider assures the premiums will be paid on a juvenile policy until the insured child reaches a specific age?
Correct Answer: B
Rationale: The Payor rider ensures that premiums on a juvenile policy are covered if the payor (typically a parent) becomes disabled or dies, allowing the policy to remain in force until the child reaches a specified age.
The Guaranteed insurability rider allows the insured to purchase additional coverage without medical evidence but does not address premium payments. The Waiver of premium rider suspends premium payments during periods of disability for the policyholder but does not specifically apply to juvenile policies. The Automatic premium loan rider helps prevent policy lapse by borrowing from the cash value to cover unpaid premiums, but it does not guarantee premium payments.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now