Q94
The main purpose of the guaranteed insurability rider benefit is to give the policyholder the right to
A.
Cancel a health-based exclusion after a symptom-free period
B.
Include his parents under the policy
C.
Increase cover when a key life event occurs
AnswerD.
Maintain cover despite a fall in investment value
Answer: Option C
Solution
Answer: Option C
Solution:
The main purpose of the guaranteed insurability rider benefit is to give the policyholder the right to Increase cover when a key life event occurs. A guaranteed insurability rider, also called a GI rider, is a life insurance rider which allows the owner of a life insurance policy to buy additional life insurance with no underwriting. A rider is an additional benefit to a life insurance policy beyond the death benefit.