LLQP Accident & Sickness · Component 2.2 · 30% of the exam
A waiver of premium rider added to a critical illness policy usually waives premiums:
- While the insured is totally disabled, after a qualifying period, keeping the policy in force
- BPermanently once the insured has held the policy for a stated number of years
- CFor any period in which the insured is not working, whatever the reason
- DOn the diagnosis of any covered condition, even where the benefit itself has not been paid
Correct answer: A) While the insured is totally disabled, after a qualifying period, keeping the policy in force
Waiver on a critical illness contract responds to disability rather than to diagnosis, which is what keeps the coverage alive during a period when premiums would be hardest to pay.
Why the other options are wrong
- BWaiver is tied to disability, not to how long the policy has been held.
- CBeing out of work for other reasons does not trigger the waiver.
- DA paid claim usually ends the contract; the waiver responds to disability.
Exam tip
On a CI contract, waiver follows disability, not diagnosis.
Common mistake
Assuming any serious diagnosis stops the premiums.
What this tests
CISRO competency component 2.2 — Analyze the available products that meet the client's needs — which is weighted at 30% of the Accident & Sickness module. Written against the published curriculum.
More from component 2
- A group benefits booklet lists AD&D coverage alongside life and LTD. The AD&D benefit pays:
- A hospital indemnity (hospital cash) policy pays:
- Employment Insurance sickness benefits are available to:
- Which government program coordinates with an individual DI policy through a possible offset AND also affects the definition of insurable income?
- A group plan's 'eligibility waiting period' (probationary period) is:
- A CI policy that is 'convertible' allows the insured to:
Practice the whole Accident & Sickness module
Timed sets weighted like the exam, and review of every question you miss. Free to start.