A.D Banker Comprehensive Exam| 500 QUESTIONS| WITH COMPLETE SOLUTIONS
A and B are married. They have two minor age children. A and B feel that all family members should have coverage on their lives, not just A. What would be the least expensive way to accomplish this? A Add accidental death coverage riders on B and the two children B Buy a traditional whole life policy on B, and juvenile policies on the children C Buy traditional whole life policies on B and the two children D Add a term life insurance rider to this policy to provide additional coverage on the spouse and children correct answer: D Add a term life insurance rider to this policy to provide additional coverage on the spouse and children The policyowner may add a term rider to this policy to provide additional coverage on the primary insured, a spouse, or children. If a beneficiary is designated as irrevocable, then all of the following require the irrevocable beneficiary's approval, except: A Changing the mode of premium B Policy assignment C Reducing the coverage D
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