LLQP Accident & Sickness · Component 2.2 · 30% of the exam
A 'waiver of premium' rider on an LTC policy typically waives premiums:
- AOn the insured's written request, once the policy has been continuously in force for ten years
- BAutomatically at age 65, when the insured is presumed by the contract to need care
- While the insured is receiving LTC benefits, after any waiting period
- DNever, since LTC policies are designed to require premium payments for the insured's whole life
Correct answer: C) While the insured is receiving LTC benefits, after any waiting period
As with DI, waiver keeps the LTC policy in force while benefits are paid. Some policies build it in.
Why the other options are wrong
- ABenefit status, not a request, triggers the waiver.
- BAge does not trigger waiver.
- DWaiver is standard or optional on most LTC contracts.
Exam tip
LTC waiver: premiums stop while benefits are paid.
Common mistake
Failing to check whether LTC waiver is built in or optional.
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.