Health and Life Insurance

Category - Annuities & Policies

What happens when an insured has guaranteed insurability?
  1. They can purchase additional insurance at a discount based on their age.
  2. They can purchase additional insurance at specified times in their policy for discounted premiums
  3. They can purchase additional insurance without a medical exam at specified ages, dates, and events
  4. They can purchase additional insurance with premiums remaining the same
Explanation
Answer: C - When an insured has guaranteed insurability they can purchase additional insurance without a medical exam at specified ages, dates, and events in their policy. The guaranteed insurability allows the insured a period of time, usually 90 days, at certain ages to purchase additional coverage. The additional coverage is usually limited to the amount and type of base policy.
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