Question

What happens if the life insured (parent) dies in a child plan with the Waiver of Premium (WoP) rider?

a.

The policy will continue and future due payments will be paid by the insurance company

b.

The policy will terminate and no benefits will be paid

c.

The nominee will get a lump sum amount

d.

The premiums will be reduced but not waived off

Posted under IC22 Life Insurance Underwriting

Answer: (a).The policy will continue and future due payments will be paid by the insurance company Explanation:If the life insured (parent) dies in a child plan with the Waiver of Premium (WoP) rider, the policy will continue and future due payments will be paid by the insurance company.

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Q. What happens if the life insured (parent) dies in a child plan with the Waiver of Premium (WoP) rider?
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