Question 11
Select the appropriate response
Which of these is considered to be a Living Benefit option in a life insurance policy?
O Reinstatement
Waiver of premium
Accelerated death benefit
Payor benefit
10 of 20 Questions Remaining
Submit Response ✓

Question

18-05-2024
Business

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Question 11
Select the appropriate response
Which of these is considered to be a Living Benefit option in a life insurance policy?
O Reinstatement
Waiver of premium
Accelerated death benefit
Payor benefit
10 of 20 Questions Remaining
Submit Response ✓

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-05-18T16:33:12-04:00

Final answer:

Waiver of premium is a living benefit option in a life insurance policy that allows policyholders to stop premium payments under certain conditions, providing financial relief without canceling the policy.

Explanation:

Waiver of premium is considered a Living Benefit option in a life insurance policy. This provision allows the policyholder to stop making premium payments if they become disabled or meet certain criteria specified in the policy.

For example, if a policyholder becomes permanently disabled and meets the policy's definition of disability, the insurer may waive the premiums, ensuring that the policy remains in force even though the policyholder is unable to work.

This feature provides financial relief to the insured during challenging times without canceling the policy.

Learn more about Living Benefit option in life insurance policy here:

https://brainly.com/question/43786438

Question 11Select the appropriate responseWhich of these is considered to be a Living Benefit option in a life insurance policy?O ReinstatementWaiver of premiumAccelerated death benefitPayor benefit10 of 20 Questions RemainingSubmit Response ✓

Answer :

Final answer:

Explanation:

Learn more about Living Benefit option in life insurance policy here:

Other Questions

Question 11
Select the appropriate response
Which of these is considered to be a Living Benefit option in a life insurance policy?
O Reinstatement
Waiver of premium
Accelerated death benefit
Payor benefit
10 of 20 Questions Remaining
Submit Response ✓