Frank, Age 38, Was Killed in a Car Accident

question 29

Multiple Choice

Frank, age 38, was killed in a car accident. Which of the following riders provided an additional benefit for his heirs?

• A) Waiver of premium disability benefit
• B) Accidental death benefit
• C) Guaranteed insurability option
• D) Cost-of-living protection
• E) Accelerated benefits

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Definitions:

Breach

An act of breaking or failing to observe a law, agreement, or code of conduct.

Principal's Termination

The end of an agency relationship by the decision of the principal, who is the individual or entity that has empowered another to act on their behalf.

Exclusive Agency

An agency in which a principal grants an agent an exclusive territory and does not allow another agent to compete in that territory.

Liable

Refers to being legally responsible to compensate or rectify a damage, loss, or breach of contract.