Insurance Awareness - Life Insurance - LIC
Which rider in a life insurance policy provides coverage that continues even if the policyholder stops paying premiums due to disability or critical illness?
Which rider in a life insurance policy provides coverage that continues even if the policyholder stops paying premiums due to disability or critical illness?
hard Q9 of 15
Step-by-Step Solution
Step 1: Analyze rider functions
The Waiver of Premium Rider ensures the policy remains in force by waiving future premiums if the policyholder is disabled or critically ill.Step 2: Exclude other riders
Accidental Death Benefit Rider pays extra on accidental death, Critical Illness Rider pays lump sum on illness, and Permanent Disability Rider pays lump sum on disability but does not waive premiums.Final Answer:
Waiver of Premium Rider → Option CQuick Check:
This rider uniquely waives premiums to keep coverage active during disability or illness.
Quick Trick: Waiver of Premium keeps policy active without premium payment.
Common Mistakes:
MISTAKES- Confusing waiver of premium with disability or critical illness lump sum riders.
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