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Related Flashcards
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Cards In This Set
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Wavier of Premium (WOP)
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The insured has been disabled for an extended period of time, so the customer no longer has to make px payments for the Life policy that has the rider.
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Accelerated/Advanced/Living Benefits Option Rider (ABOR/LBOR)
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The insured is terminal ill and can tap into their death benefits while they are still living.
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Long Term Care (LTC)
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The insured can receive an early payout of the death benefit for periods of Long-Term Confinement, Assisted Living Confinement, Home Health Care and Adult Day Care Services for the Insured. This is not a standalone long-term care policy.
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Disability Income Rider (DIP)
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Acts as a STD policy.
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Accidental Death
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Additional benefit if the insured passes away due to an accident.
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Child/Spouse Rider
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A term policy attached to a base life insurance policy. For a CH, it covers all dependent children.
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