Question 70

An insured can accomplish this goal by purchasing a child term rider.

A child term rider is an add-on to a whole life insurance policy that provides coverage for the insured's minor children, ensuring they are protected under the parent's policy.

A) child term rider.

This option is correct as a child term rider specifically provides life insurance coverage for the insured's children, allowing them to be protected under the parent's whole life policy. It is designed to cover children during their minor years, giving parents peace of mind.

B) family income rider.

A family income rider is intended to provide income to the family in the event of the insured's death, but it does not offer direct coverage for minor children. Therefore, while it serves a different purpose, it does not meet the goal of providing coverage specifically for the insured's children.

C) family maintenance rider.

The family maintenance rider offers a combination of life insurance and an income benefit for a specified period following the insured's death. However, similar to the family income rider, it does not provide coverage for the insured’s minor children and is not appropriate for that specific need.

D) guaranteed insurability rider.

A guaranteed insurability rider allows the insured to purchase additional life insurance coverage at specified times without having to provide evidence of insurability. While it offers flexibility for the insured's future needs, it does not provide coverage for minor children directly, making it unsuitable for this goal.

Conclusion

The child term rider is the only option that directly addresses the need for coverage for the insured's minor children, making it the appropriate choice. Other options, while useful in different contexts, do not fulfill the specific requirement of providing life insurance for children. Thus, the child term rider stands out as the definitive solution in this scenario.