North Carolina Life Agent Practice Exam 2025 – The All-in-One Guide to Master Your Licensing Success!

Question: 1 / 400

What does the "waiver of premium" rider allow policyholders to do?

Increase the death benefit without additional cost

Skip premium payments while disabled

The "waiver of premium" rider is a beneficial feature in a life insurance policy that allows policyholders to skip premium payments if they become disabled and are unable to work. This means that if the policyholder experiences a qualifying disability, the insurance company will waive the premium payments during the period of disability, ensuring that the individual's coverage remains in force without the financial burden of paying premiums.

This rider provides significant financial relief and peace of mind, as it ensures that the policyholder does not have to worry about losing their life insurance coverage during a time when they may already be facing challenges due to their disability. It enhances the policy's value, especially for those who prioritize maintaining their life insurance protection despite unforeseen circumstances that affect their income.

Get further explanation with Examzify DeepDiveBeta

Convert term policies to whole life policies

Reduce the face value of a policy

Next Question

Report this question

Download North Carolina Life Agent Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy