A rider that assures premiums will be paid on a juvenile policy until the child reaches a specific age is called a(n)

• A. Suicide rider
• B. Payor rider
• C. Waiver rider
• D. Disability rider

Answer: (B)

In a juvenile life policy, a rider that ensures premiums will be paid even if the parent (the usual payer) can’t continue pays for the policy is the payor rider. This rider names a payor (typically a parent or guardian) and, if that payor dies or becomes disabled, the insurer takes over premium payments or guarantees continued coverage until the child reaches a specified age. The idea is to keep the policy in force until the child is old enough to assume responsibility or until the policy reaches a built-in maturity age.

This is different from a waiver of premium rider, which waives premiums if the insured becomes totally disabled, or a disability rider, which provides coverage related to the insured’s disability. A suicide rider relates to death benefits timing and does not concern continuing premium payments.