Life License Qualification Program (LLQP) Practice Exam

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Study for the Life License Qualification Program (LLQP) Exam. Prepare with flashcards and multiple choice questions, each question comes with hints and explanations. Get ready for a successful exam experience!

Practice this question and more.

What type of insurance coverage allows for additional amounts to be purchased without insurability proof?

Adjustable life rider
Guaranteed insurability rider
Extended coverage rider
Accidental death rider

The correct answer is: Guaranteed insurability rider

The guaranteed insurability rider is a feature in certain life insurance policies that allows the policyholder to purchase additional coverage at specified future dates without the need to provide proof of insurability. This means that regardless of any changes in health or circumstances that could affect the ability to qualify for coverage, the policyholder can increase their insurance amount. This rider is particularly beneficial for individuals who anticipate needing more coverage as their life situation changes (e.g., marriage, having children, or purchasing a home) and want to ensure they can secure that coverage without the risk of being denied based on their health status at the time they wish to increase their policy limit.