Massachusetts Health & Accident Insurance Practice Exam

What does Guaranteed Insurability Rider allow the insured to do?

1. Purchase additional disability income coverage without proof of insurability

2. Reduce premiums upon reaching a certain age

3. Access funds for immediate medical expenses

4. Transfer benefits to family members after death

The correct answer is: Purchase additional disability income coverage without proof of insurability

The Guaranteed Insurability Rider allows the insured to purchase additional coverage without having to provide proof of insurability at specified times, usually during certain life events such as marriage, the birth of a child, or reaching certain ages. This rider is particularly valuable because it enables individuals to increase their insurance coverage without being subject to medical underwriting or health questions that could affect their insurability. This ensures that even if their health status changes, they can still secure additional coverage—providing peace of mind and financial security. The other options involve benefits or features that are not typically associated with a Guaranteed Insurability Rider. For example, reducing premiums at a certain age, accessing funds for immediate medical expenses, or transferring benefits to family members post-death do not align with the primary purpose of this rider, which is focused on the ability to obtain additional coverage without underwriting stipulations.