Loma 281 Module 3 Questions And Answers 100% Verified A+ Guaranteed

Childrens Insurance Rider {Ans: - sold in coverage units - premium per coverage unit is the same regardless of the number and ages of children - made for single parent households}reinstatement {Ans: The process by which an insurer puts back into force a life insurance policy that either has been terminated because of nonpayment of renewal premiums or has been continued under the extended term or reduced paid-up insurance nonforfeiture option.}Accidental death and dismemberment (AD&D) benefit {Ans: A supplemental life insurance policy benefit that provides an accidental death benefit and provides a dismemberment benefit payable to the insured if an accident causes the insured to lose any two limbs or the sight in both eyes. - the dismemeberment benefit amount is same as accidental death benefit - a smaller benefit may be payable for loss of one limb or one eye}The premium for children's coverage under a spouse and children's insurance rider increases proportionately with each additional child. a. True b. False {Ans: B. The premium for the children's coverage under a spouse and children's insurance rider is a specified, flat amount that does not change with the number of children. Additional children are covered automatically