Life · Chapter 5 · Riders
Payor Benefit Rider
Definition
On a juvenile policy: if the adult payor dies or becomes totally disabled, premiums are waived until the child reaches a set age (18/21/25).
Exam tip
Payor = waives a child's premiums. Guaranteed Insurability = lets the insured BUY MORE coverage later.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms