Question 26

The guaranteed insurability rider allows the policyowner to purchase more insurance on his own life at certain specified ages without proof of insurability.

This rider grants the policyowner the ability to obtain additional coverage for their own life at predetermined ages, eliminating the need to provide evidence of good health at those times.

A) on the lives of dependents at certain specified ages.

This option is incorrect because the guaranteed insurability rider specifically pertains to the policyowner's own life, rather than the lives of dependents. It does not offer provisions for purchasing insurance on others.

B) on his own life at certain specified ages without proof of insurability.

This option is correct as it accurately describes the guaranteed insurability rider. It enables the policyowner to increase coverage on their own life at designated ages without the requirement of demonstrating insurability, which is a key benefit of this rider.

C) on his own life at certain specified ages, provided the policyowner is insurable.

This option is incorrect because it contradicts the fundamental aspect of the guaranteed insurability rider, which allows the policyowner to purchase additional coverage without having to prove insurability.

D) anytime during the policyowner's life, on his own life, without proof of insurability.

This option is incorrect as it misrepresents the terms of the rider. The guaranteed insurability rider does not allow for additional insurance to be purchased at any time; it is limited to specific ages as outlined in the policy.

Conclusion

The correct answer, B, is definitive because it encapsulates the main feature of the guaranteed insurability rider, which is to allow policyowners to purchase additional insurance on their own lives without needing to verify their health status at certain ages. All other options either misinterpret this provision or incorrectly apply it to dependents or different conditions.