Connecticut Life Producer Practice exam

Which rider allows the early payment of a portion of the death benefit to the insured?

1. Accelerated death benefit rider

2. Waiver of premium rider

3. Guaranteed insurability rider

4. Cost of insurance rider

The correct answer is: Accelerated death benefit rider

The accelerated death benefit rider is designed to allow the insured to receive a portion of the death benefit early in certain circumstances, typically when facing a terminal illness or incapacitating condition. This rider provides financial assistance when the policyholder needs funds for medical expenses or other urgent needs while still living. This contrasts with the other riders listed, which serve different functions. The waiver of premium rider ensures that premiums can be waived if the policyholder becomes disabled and unable to work, but it does not provide an early payout of the death benefit. The guaranteed insurability rider allows policyholders to purchase additional coverage at specified times without having to prove insurability, but it does not involve any early payment from the death benefit. Lastly, the cost of insurance rider reflects the charges associated with the policy and does not pertain to the payment of benefits. Overall, the accelerated death benefit rider is specifically tailored to provide timely financial support to the insured during life, making it the correct choice.