Q. What are riders in insurance contracts primarily designed for?

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Q. When does the option to include a rider become valid?

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Q. What event triggers the benefits provided by the Permanent Disability Rider?

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Q. What is the primary purpose of the Term Rider?

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Q. What condition must be met for the Accident Benefit Rider to pay out its benefits?

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Q. What event triggers the benefits provided by the Critical Illness Rider?

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Q. What is the primary benefit of the Waiver of Premium Rider?

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Q. According to IRDAI regulations, what is the maximum percentage of the Basic Life Insurance premium that can be allocated to riders?

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Q. What is the limit for the Rider Sum Assured in relation to the Sum Assured of Basic Life Insurance Benefit?

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Q. Which type of insurance riders are exempt from the 30% limit on rider premium allocation?

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Q. What is the primary purpose of options offered in insurance contracts?

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Q. Which of the following options allows policyholders to increase their insurance cover without undergoing a medical examination?

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Q. What does the paid-up option in insurance contracts entail?

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Q. What alteration option involves changing the ownership of the policy?

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Q. In a group insurance policy, what option is typically offered to individual members who leave the group?

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Q. What does the grace period in insurance policies typically refer to?

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Q. What does the free look cancellation option in insurance policies allow?

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Q. Which alteration involves changing the mode of premium payment from monthly to yearly?

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Q. What is the purpose of the conversion option in a deferred pension plan?

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Q. What type of alteration typically incurs charges from the insurer?

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