Health Insurance Mastery Practice Exam

Which of the following riders allows an insured to purchase additional coverage at specified intervals without further evidence of insurability?

1. Accidental death rider

2. Waiver of premium rider

3. Guaranteed insurability rider

4. Renewable term rider

The correct answer is: Guaranteed insurability rider

The correct answer is the guaranteed insurability rider. This rider is specifically designed to allow the insured to purchase additional coverage at predetermined intervals—such as on their policy anniversary or at significant life events—without the need to provide further evidence of insurability, such as medical exams or health history. This feature is particularly valuable for individuals who may anticipate changes in their health status, as it ensures they can increase their coverage even if their health deteriorates over time. In contrast, an accidental death rider typically provides a benefit for death resulting from accident-related causes, but it does not allow for the purchase of additional coverage. The waiver of premium rider provides relief from premium payments if the insured becomes disabled, rather than facilitating additional coverage purchases. A renewable term rider allows a policy to be renewed without the need for medical evidence at the end of the term, but it does not offer the option to increase coverage as the guaranteed insurability rider does. Thus, the unique feature of the guaranteed insurability rider sets it apart as the correct choice.