Premiums for a Guaranteed Insurability Rider are based on

Premiums for a Guaranteed Insurability Rider are based on

• A. Attained age
• B. Current health at purchase
• C. Gender and occupation
• D. Original issue age

Answer: (A)

Premiums for a Guaranteed Insurability Rider are determined by the attained age—the age you are when you exercise the rider to add more coverage. This rider lets you purchase additional insurance at specified dates or events without showing medical underwriting, but the new premium is based on your current age at the time of purchase and the amount of extra coverage you choose. Because pricing uses attained age, waiting longer to add coverage means higher premiums, since age-based rates rise with age. Health at the time of exercise isn’t the factor used to set these premiums, and original issue age or gender/occupation aren’t the basis for the added coverage’s price.

Premiums for a Guaranteed Insurability Rider are determined by the attained age—the age you are when you exercise the rider to add more coverage. This rider lets you purchase additional insurance at specified dates or events without showing medical underwriting, but the new premium is based on your current age at the time of purchase and the amount of extra coverage you choose. Because pricing uses attained age, waiting longer to add coverage means higher premiums, since age-based rates rise with age. Health at the time of exercise isn’t the factor used to set these premiums, and original issue age or gender/occupation aren’t the basis for the added coverage’s price.