Types of Riders Flashcards
(8 cards)
Payor Rider
provides for the continuance of insurance coverage on the life of a juvenile in the event of the death or total disability of the individual responsible for the payment of the premiums
the principal sum
the amount of money paid by an accidental death benefit rider if the insured dies in an accident
the capital sum
the amount of money paid by an AD&D rider if the insured is disabled due to the loss of one leg in an accident
waiver of premium requires that the disability must be one that is
total and continues uninterrupted
Payor Rider requires
proof of insurability of the policyowner as well as the insured
time frame usually in place for double indemnity
90 days
principal sum
100% of the rider if the insured dies within 90 of the accident
capital sum
50% of the rider if the insured loses a limb due to an accident
