Question

What is the maximum amount of benefit offered by the Accidental Death Benefit (ADB) rider?

a.

It can be equal to the basic death benefit

b.

It can be lower than the base sum assured

c.

It can be higher than the base sum assured

d.

It can be any amount specified by the policyholder

Posted under IC22 Life Insurance Underwriting

Answer: (a).It can be equal to the basic death benefit Explanation:The maximum amount of benefit offered by the Accidental Death Benefit (ADB) rider can be equal to the basic death benefit (i.e. additional sum assured) or lower, but never higher than the base sum assured.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the maximum amount of benefit offered by the Accidental Death Benefit (ADB) rider?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the underwriter evaluating while assessing the accident risk and granting the ADB rider benefit?

View solution

Q. Can the Accidental Death Benefit (ADB) rider be declined by the insurance company?

View solution

Q. What is the Waiver of Premium rider?

View solution

Q. What is TPD in the context of life insurance?

View solution

Q. What are the prerequisites for a TPD claim?

View solution

Q. What is the meaning of "gainful employment" in the context of TPD?

View solution

Q. Why is the claims process for TPD very careful and may require medical and legal experts?

View solution

Q. What is a term rider in a life insurance policy?

View solution

Q. What is a critical illness rider?

View solution

Q. When is the benefit payable to the insured under a critical illness rider?

View solution

Q. Which of the following critical illnesses may be covered by an insurance company under the critical illness rider?

View solution

Q. What is the difference between a critical illness rider and an insurance mediclaim policy?

View solution

Q. What is the time period within which the benefit is generally paid under the critical illness rider?

View solution

Q. What is the purpose of the critical illness rider?

View solution

Q. What is the role of insurance companies in defining the conditions for which the critical illness rider is payable?

View solution

Q. What is the benefit of the critical illness rider?

View solution

Q. What is Premium Loading?

View solution

Q. What factors determine the amount of premium loading an insurer imposes?

View solution

Q. What documents are necessary for an underwriter to review for risk selection?

View solution

Q. When is a proposal referred to reinsurers for their decision?

View solution
View All MCQs on IC22 Life Insurance Underwriting

Recommended Subjects

Are you eager to expand your knowledge beyond IC22 Life Insurance Underwriting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Foundation Engineering

Master the principles of Foundation Engineering with our specialized category....

Biochemistry

Delve into the intricate world of Biochemistry with our Biochemistry category....

Genetic Engineering

Unlock the potential of Genetic Engineering with our dedicated category. Explore gene...

Non Verbal Reasoning

Enhance your cognitive abilities with our Non-Verbal Reasoning category. Dive into...

Verbal Ability

Hone your language and communication skills with our Verbal Ability category. Enhance...

Optical Communication

Explore the world of high-speed data transmission with our Optical Communication...

Human Anatomy and Physiology

Embark on a journey through the human body with our Human Anatomy and Physiology...

Mechatronics

Enter the world of integrated engineering systems with our Mechatronics category....

Analytical Instrumentation

Dive into the world of precise measurements with our Analytical Instrumentation...