53. A rider waling premlums is called a
Answer: A
A rider waling premiums is called a disability rider.
A disability rider is an addition to an insurance policy that ensures the rider's premiums are waived if the insured becomes disabled. This helps maintain coverage without the financial burden during a period of disability.
A) disabllity rider.
This option is correct as a disability rider specifically addresses the situation where premiums are waived in the event of the insured becoming disabled. It aligns directly with the definition of a rider that alters premium obligations.
B) term rider.
A term rider is typically associated with temporary insurance coverage that may not have provisions for waiving premiums. Therefore, this option does not adequately describe a rider that entails waiving premiums due to disability.
C) cost of insurance rider.
A cost of insurance rider usually pertains to adjustments in premiums based on the changing cost of insurance risk, rather than waiving premiums in the event of disability. Thus, it does not match the context of the question.
D) cost of living rider.
A cost of living rider adjusts the benefits of an insurance policy to accommodate inflation but does not involve the waiver of premiums due to disability. Hence, this option is not relevant to the question at hand.
Conclusion
The disability rider is the only option that directly addresses the requirement of waiving premiums when the insured is disabled, making it the definitive correct answer. All other options fail to meet this specific criterion, focusing instead on different aspects of insurance riders that do not pertain to premium waivers.