Which term describes the feature that guarantees the ability to purchase additional coverage without proof of insurability?

Which term describes the feature that guarantees the ability to purchase additional coverage without proof of insurability?

• A. Guaranteed Insurability
• B. Options
• C. Long Term Care Rider
• D. Cash Surrender Value

Answer: (A)

The feature described is guaranteed insurability. It’s a rider that lets you buy additional life insurance in the future without having to show proof of good health. You can exercise this option at specific times or life events (such as certain ages or events like marriage or the birth of a child), and you’ll pay a premium based on your attained age at that moment. No medical exam is required for the extra coverage, which helps you maintain or increase protection even if your health has changed. This differs from other options like a long-term care rider, which adds LTC benefits, or the cash surrender value, which is the policy’s accumulated cash you can borrow or withdraw. The term guaranteed insurability uniquely describes the non-medical, future-coverage-growing feature.

The feature described is guaranteed insurability. It’s a rider that lets you buy additional life insurance in the future without having to show proof of good health. You can exercise this option at specific times or life events (such as certain ages or events like marriage or the birth of a child), and you’ll pay a premium based on your attained age at that moment. No medical exam is required for the extra coverage, which helps you maintain or increase protection even if your health has changed.

This differs from other options like a long-term care rider, which adds LTC benefits, or the cash surrender value, which is the policy’s accumulated cash you can borrow or withdraw. The term guaranteed insurability uniquely describes the non-medical, future-coverage-growing feature.