Question

A couple owns a life insurance policy with a Children’s Term rider. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. Which of the following will she need to provide for proof of insurability?
1. Medical exam and parental medical history
2. Medical exam
3. Proof of insurability is not required
4. Her parent's federal income tax receipts

Answer 1

Answer:

3. Proof of insurability is not required

Explanation:

Proof of insurability is not required because if a children's term rider is attached to a life insurance policy, then children are protected or covered by this insurance till they reach a particular age, which happens to be the maximum age stated in the policy. From that age they can convert their insurance coverage to a permanent

life insurance policy without having to issue proof of insurability as it would not be required because a child rider locks in future insurability. The can child rider can be purchased with an individual life insurance policy.