OPP Rider Quiz
Quiz by C V
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8 questions
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- Q1What is one of the benefits of contributing to the OPP Rider?Decrease cash valueIncrease term lengthNo effect on cash valueIncrease cash value45s
- Q2How can you determine if a Whole Life contract has Old OPP?Ask the client directlyReview Claims tab in Policy Admin Web (PAW) or MRDPCheck Service Central45s
- Q3What is the minimum Lump Sum payment amount for AD107 EWL?$25.00No minimum$75.00$50.0045s
- Q4What is the monthly draft amount required for COM OPP on AD107 EWL?$25.00$10.00$5.00$50.0045s
- Q5What happens if no OPP premiums have been paid for three anniversaries in a row?OPP rider will endPremiums will decreasePolicy will cancelOPP rider will double45s
- Q6How can a client change from Lump Sum OPP to Billable OPP?
The client cannot change to Billable OPP if the policy is already set to Lump Sum OPP
Contact the State Insurance departmentCall center representatives can accept requests at the point-of-call45s - Q7What are the charges deducted from each payment made into the OPP Rider?License renewal feeMaintenance feeExpense charge and potentially late payment adjustment factorTax fee and commission fee45s
- Q8What is the OPP Rider used for?To purchase additional paid up insuranceTo skip premium paymentsTo pay double the face amount for accidental deathTo change dividend option45s