Which rider would waive the premium on a child's life insurance policy if the parent paying the premium dies?

• A. Payor benefit
• B. Waiver of premium rider
• C. Disability rider
• D. Contingent payor rider

Answer: (A)

When a juvenile life policy is funded by a parent, the rider designed to protect the policy if the paying adult dies is called the payor benefit. This rider steps in to keep the policy in force by waiving future premiums (or paying them) if the payer dies or becomes totally disabled. That directly matches the scenario in which the parent who was funding the premiums dies, ensuring the child’s coverage doesn’t lapse.

The other riders serve different purposes: a waiver of premium rider typically relates to the insured’s disability, not the payer’s death; a disability rider covers disability situations but not the payer dying; and a contingent payor rider names a backup person to make payments if the primary payer cannot continue, but it doesn't automatically waive premiums on the payer’s death.