41. Under an individual Major Medical policy, a married policyholder with family coverage will remain in force even in the event of being disabled should purchase which of the following riders?
Answer: C
Waiver of Premium is the necessary rider for a disabled policyholder.
A married policyholder with family coverage under an individual Major Medical policy should purchase the Waiver of Premium rider to ensure that the policy remains in force even in the event of disability.
A) Accidental Death and Dismemberment (AD&D)
This rider provides benefits in the event of accidental death or loss of limbs but does not address the issue of premium payments during a period of disability. Therefore, it does not help keep the policy active if the policyholder becomes disabled.
B) Double Indemnity
Double Indemnity focuses on paying double the face amount of the policy in the event of accidental death. Similar to AD&D, it does not provide any provisions for waiving premiums during a disability, making it irrelevant for maintaining coverage under those circumstances.
C) Waiver of Premium
The Waiver of Premium rider allows the policyholder to stop paying premiums if they become disabled, thereby keeping the policy active without financial strain. This is essential for a married policyholder with family coverage who might face difficulties in continuing premium payments due to a disability.
D) Guaranteed Insurability
This rider allows policyholders to purchase additional coverage at specified times without needing to provide evidence of insurability. However, it does not address the need to waive premiums during a disability, which is crucial for maintaining coverage.
Conclusion
The Waiver of Premium rider is the only option that directly addresses the need for a married policyholder to maintain their Major Medical policy during a period of disability. All other options either provide benefits in specific circumstances or do not relate to the payment of premiums, making them unsuitable for this situation.