Life Insurance Policy Clauses & Provisions

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is a rider?

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1. What provision allows for a policy to restart after a lapse in coverage, as long as there is proof of coverage during the lapse or the lapse period is short enough?

2. What provision provides for benefits to be paid if the insured has been deemed terminal (i.e. will die soon)?

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About This Quiz & Worksheet

This quiz and worksheet combo will help you make sure you remember the different clauses and provisions of a life insurance policy. You will need to identify specific terms from their descriptions.

Quiz & Worksheet Goals

In this quiz/worksheet you'll assess your understanding of:

  • Benefits paid if you have a condition said to be terminal
  • What may happen to your policy if you die in a war zone
  • Provisions of the policy

Skills Practiced

  • Defining key concepts - ensure that you can accurately define main terms, such as a rider
  • Information recall - access the knowledge you've gained regarding what could happen to your insurance payout if the designated beneficiary is also dead
  • Knowledge application - use your knowledge to answer questions about different provisions and clauses of standard insurance contracts based on their descriptions

Additional Learning

You can learn more about this type of contract by reviewing the lesson titled Life Insurance Policy Clauses & Provisions. It will help you understand topics like:

  • Grace periods
  • Policy loans
  • Suicide clause
  • Incontestable clause
  • Free looks
  • Entire contract clause
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