Life Provisions and Riders: Rapid Fire
Chapters in this video
What this video covers
- How the entire-contract provision differs from sales material, and what the insuring clause identifies
- How a provision differs from a rider, and how free look differs from cash surrender
- Why grace applies before lapse, while reinstatement applies after lapse, and why mailing a check alone may not restore coverage
- How waiver of premium differs from disability income, and how guaranteed insurability and payor benefit riders work
- How accelerated death benefits differ from long-term care benefits, including their potential effects on later proceeds
- How ratings differ from exclusions, and how cash surrender, reduced paid-up, and extended-term options use policy value
- How absolute and collateral assignments differ, and how settlement options and post-death interest affect payment and taxes
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