NYLAHI New York Life, Accident & Health Insurance exam - Set 2 - Part 3
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 41: A provision that automatically borrows against a policy's cash value to pay a premium the owner forgot, keeping the policy from lapsing, is known as which of the following?
Question 42: A whole life policyowner borrows against the policy's cash value, and any unpaid balance at death reduces the benefit. This feature is known as which of the following?
Question 43: A dividend option that uses each dividend to buy a small amount of additional fully paid-up permanent coverage is known as which of the following?
Question 44: A participating policyowner leaves each dividend on deposit with the insurer to earn interest. Which dividend option has been selected?
Question 45: Which rider keeps a life policy in force by excusing premium payments if the insured becomes totally disabled for a stated waiting period?
Question 46: On a juvenile policy, which rider waives future premiums if the adult who pays them dies or becomes disabled before the child reaches a set age?
Question 47: Which rider pays an additional amount, often equal to the face value, if the insured dies as the result of an accident rather than illness?
Question 48: Which rider lets the insured buy additional coverage at set future dates without showing evidence of insurability, regardless of any change in health?
Question 49: Which provision lets a terminally ill insured collect part of the policy's death benefit in advance to help with medical or living costs?
Question 50: Which rider periodically increases a policy's death benefit to keep pace with inflation, usually without requiring new evidence of insurability?
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