and Answers Graded A+ 2026
Waiver of premium for disability (WP) Benefit -Correct Answer ✔-A supplemental
life insurance policy benefit under which the insurer promises to give up—to
waive—its right to collect premiums that become due while the insured is totally
disabled.
- satisfies a 3-6 month waiting period: meaning for the first 3-6 months the person
must cover it
The WP benefit typically defines total disability for the insured as being unable to
perform the duties of?
a. Any occupation
b. The insured's own previous occupation
c. Any occupation for which the insured is reasonably suited by education,
training, or experience -Correct Answer ✔-C.
Waiver of premium for payor benefit -Correct Answer ✔-A supplemental life
insurance policy benefit which provides that the insurance company will waive the
right to collect a policy's renewal premiums if the policyowner dies or becomes
totally disabled.
To add a waiver of premium for payor benefit to a life insurance policy, who do
you think must be insurable?
a. The insured
b. The policyowner
c .Both the insured and the policyowner
d. Neither the insured or the policyowner -Correct Answer ✔-C.
Wavior of premium for disability benefits compared -Correct Answer ✔-Insurer
waives policy premiums if the insured becomes totally disabled.
,Designed for policies in which the policyowner is also the policy's insured
Total disability defined as
• The insured's inability to perform the essential duties of her own occupation OR
any other occupation for which she is reasonably suited by education, training, or
experience.
Wavior of premium for payor benefit compared -Correct Answer ✔-Insurer waives
policy premiums if the policyowner dies or becomes totally disabled.
Designed for third-party policies in which the policyowner is not the policy's
insured
Total disability defined as
• The policyowner's inability to perform the essential duties of her own
occupation during the first two years of disability
• The policyowner's inability to perform the essential duties of any occupation for
which she is reasonably entitled by education, training, or experience after the
first two years of disability
Disability Income Benefit -Correct Answer ✔-A supplemental life insurance policy
benefit that provides a monthly income benefit to the policyowner-insured if she
becomes totally disabled while the policy is in force.
- 3- 6 month waiting period
- some for riders provide a partially disabled benefit
Identify the supplemental disability benefit rider with its example.
The UL insurance policy Drew Stephens owns on his life includes a rider that will
pay him a monthly benefit if he becomes totally disabled.
,a. Disability income benefit rider
b. Waiver of premium for payor rider
c. Waiver of premium for disability rider -Correct Answer ✔-A.
A rider on Mary Margaret Satterfield's insurance policy specifies that her insurer
will pay her renewal premiums if she becomes disabled.
a. Disability income benefit rider
b. Waiver of premium for payor rider
c. Waiver of premium for disability rider -Correct Answer ✔-C.
A rider on Benjamin Mumford's policy covering the life of his daughter provides
that the insurer will waive the policy's renewal premiums if Mr. Mumford dies or
becomes totally disabled.
a. Disability income benefit rider
b. Waiver of premium for payor rider
c. Waiver of premium for disability rider -Correct Answer ✔-B.
accidental death benefit -Correct Answer ✔-A supplemental life insurance policy
benefit that provides a death benefit in addition to the policy's basic death benefit
if the insured dies as a result of an accident.
- double indemnnity: doubles the face amount payable when the insured dies in
an accident
-
Why is an accidental death benefit sometimes called a double indemnity benefit?
a. It frequently doubles the policy's face amount
b. It requires two forms of proof that the death was accidental
c. It doubles the premium for the coverage -Correct Answer ✔-A.
Accidental death benefit riders typically include certain exclusions. In other words,
the insurer will not pay accidental death benefits if the insured's death results
, from certain stated causes. Which of the following causes of death do you think
are typically excluded? (Choose all that apply.)
a. Death resulting from suicide
b. Death as a result of war-related accidents
c. Aviation-related accidents other than as a passenger on an airplane
d. Death occurring during the commission of a crime -Correct Answer ✔-A, B, C &
D
Some life insurance policies include an accidental death and dismemberment
benefit. Do you think that such policies pay two benefits: one for death caused by
an accident and an additional benefit if the deceased is dismembered in the
accident?
a. Yes
b. No
c. Sometimes -Correct Answer ✔-B.
Accidental death and dismemberment (AD&D) benefit -Correct Answer ✔-A
supplemental life insurance policy benefit that provides an accidental death
benefit and provides a dismemberment benefit payable to the insured if an
accident causes the insured to lose any two limbs or the sight in both eyes.
- the dismemeberment benefit amount is same as accidental death benefit
- a smaller benefit may be payable for loss of one limb or one eye
Kevin Walter was the policyowner-insured of a $75,000 life insurance policy that
included a typical $75,000 accidental death and dismemberment (AD&D) benefit
rider. While his policy was in force, Mr. Walter, who had been diagnosed with
terminal stomach cancer, died in a traffic accident.
If Mr. Walter's insurance company determines that the accident was the cause of
his death, the total death benefit payable to the policy's beneficiary would be
a. 0