New Jersey Life Insurance Exam Practice Question
Which rider would allow additional insurance at specified dates or events, without evidence of insurability?
Correct Answer: B
Rationale: Guaranteed Insurability is designed to allow policyholders to purchase additional insurance at specified dates or events without needing to provide evidence of insurability, ensuring coverage even if health changes occur.
Return of Premium primarily focuses on refunding premiums if no claims are made, rather than additional coverage. Cost of Living adjustments modify benefits based on inflation but do not pertain to adding coverage. Disability Income riders provide benefits if the policyholder becomes disabled but do not address additional insurance options. Thus, only Guaranteed Insurability directly meets the criteria of allowing additional coverage without health assessments.
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