Question

What are rider benefits in insurance?

a.

Additional benefits added to the main policy

b.

Benefits payable upon policy surrender

c.

Benefits payable at the end of the policy term

d.

Benefits payable in case of discontinuance of the policy

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (a).Additional benefits added to the main policy Explanation:Rider benefits refer to an amount of benefit payable on a specified event offered under the rider, which is allowed as an add-on benefit to the main benefit.

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