Which of the following dividend options will increase the death benefit?

This option allows the policyholder to purchase additional insurance at specified times without providing evidence of insurability; however, it does not directly increase the death benefit until additional coverage is purchased. The guaranteed insurability option merely provides the opportunity to increase coverage in the future, rather than an immediate increase to the death benefit itself.

Choosing to reduce premiums typically involves lowering the death benefit or utilizing policy dividends to offset premium payments. This option does not increase the death benefit; instead, it can potentially lead to a decrease in coverage, making it opposite to what is required for increasing the death benefit.

The Spouse Term Rider offers temporary coverage for a spouse but does not affect the primary policyholder's death benefit. While this rider adds additional coverage for the spouse, it does not increase the death benefit of the original policyholder's life insurance, thus failing to meet the criteria of increasing the overall death benefit.