LLQP Accident & Sickness · Component 2.2 · 30% of the exam
A 'waiver of premium' rider on a CI policy:
- Waives CI premiums if the insured becomes totally disabled for a stated period
- BIs built into every CI policy sold in Canada as one of the statutory conditions of the contract
- CWaives CI premiums once the insured has made a claim for any covered condition under the policy
- DWaives all premiums permanently once the policy has been continuously in force for ten years
Correct answer: A) Waives CI premiums if the insured becomes totally disabled for a stated period
CI waiver is disability-triggered. Without it, a disabled client may lapse CI coverage just when illness risk is high.
Why the other options are wrong
- BIt is usually optional.
- CA CI claim usually ends the base coverage; waiver addresses disability.
- DIt applies during disability only.
Exam tip
CI waiver of premium is triggered by disability, not by a CI claim.
Common mistake
Assuming CI premiums stop automatically if the insured is disabled.
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.