Which rider assures the premiums will be paid on a juvenile policy until the insured child reaches a specific age?

Rationale

Payor rider.

The payor rider is a provision that ensures premiums on a juvenile life insurance policy are paid if the adult payor (usually a parent) becomes disabled or passes away before the insured child reaches a specified age. This rider protects the policy from lapsing due to non-payment during a critical time in the child's life.

A (Guaranteed insurability rider.) YOUR ANSWER

This rider allows the insured to purchase additional insurance coverage at specified times without providing evidence of insurability. While it provides future coverage options, it does not ensure premiums for the existing juvenile policy are paid if the payor is unable to do so.

B (Payor rider.) CORRECT

As stated, the payor rider ensures that the premiums on the juvenile policy are covered if the adult payor cannot make payments due to disability or death. This rider is specifically designed for juvenile policies, making it the most relevant choice for the question.

C (Waiver of premium rider.) YOUR ANSWER

The waiver of premium rider allows the policyholder to stop paying premiums if they become disabled. However, it applies to the policyholder and does not extend to a juvenile policy where a parent or guardian is paying the premiums on behalf of the child.

D (Automatic premium loan rider.) YOUR ANSWER

This rider permits the insurer to automatically use the policy’s cash value to cover overdue premiums. While it prevents the policy from lapsing, it does not provide a guarantee that premiums will be paid by a third party, such as a parent, which is the focus of the question.

Conclusion

The payor rider is essential for ensuring that juvenile life insurance policies remain in force by guaranteeing that premiums are paid even if the adult responsible for payments can no longer fulfill that obligation. In contrast, the other riders address different aspects of insurance coverage and do not provide the same assurance for juvenile policies.

Which rider assures the premiums will be paid on a juvenile policy until the insured child reaches a specific age?

Payor rider.

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