81. The guaranteed insurability rider provides that the policyowner can purchase more insurance
Answer: B
The policyowner can purchase more insurance on his own life at certain specified ages without proof of insurability.
The guaranteed insurability rider allows the policyowner to increase their insurance coverage on their own life at predetermined ages without needing to provide evidence of insurability.
A) on the lives of dependents at certain specified ages.
This option is incorrect because the guaranteed insurability rider specifically applies to the policyowner's own life, not to the lives of dependents. While riders for dependents may exist, they are not covered under the guaranteed insurability rider.
B) on his own life at certain specified ages without proof of insurability.
This option is correct as it accurately reflects the function of the guaranteed insurability rider. It allows the policyowner to purchase additional insurance on their own life at specified ages without the need for proof of 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 the guaranteed insurability rider specifically allows for the purchase of additional insurance without requiring proof of insurability. Therefore, the policyowner's insurability status does not impact their ability to increase coverage under this rider.
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 allows for increases in coverage only at certain specified ages, not at any time during the policyowner's life.
Conclusion
The correct answer, B, clearly outlines the main advantage of the guaranteed insurability rider, which is the ability to purchase additional insurance on the policyowner's life at specified ages without the necessity of proving insurability. All other options fail to accurately represent the rider's terms or apply to the policyowner's dependents, making B the definitive choice.