Final answer:
The correct rider to keep a juvenile life policy in force if the premium payor dies or becomes disabled is the Payor Benefit Rider. This rider waives premium payments in such circumstances, ensuring the policy remains active. Other riders do not serve this specific purpose.
Explanation:
Understanding Insurance Riders
In the context of a juvenile life policy, if the premium payor (the parent) dies or becomes disabled, it is crucial to keep the policy in force to ensure continued coverage for the child. The rider that specifically addresses this situation is the Payor Benefit Rider.
What is a Payor Benefit Rider?
The Payor Benefit Rider is designed to waive the premium payments on a life insurance policy if the person responsible for paying those premiums (in this case, the parent) passes away or becomes disabled. This ensures that the policy remains active even if the payor cannot make the payments due to unexpected circumstances.
Other Riders Explained
- Accidental Death Benefit Rider: Provides an additional payout if the insured dies in an accident.
- Disability Income Rider: Offers monthly income if the policyholder becomes disabled, but does not affect premium payments.
- Return of Premium Rider: Refunds the total premiums paid if the insured outlives the policy term, which does not apply to keeping the policy active.
Because of these considerations, the correct answer to the question about which rider keeps the juvenile life policy in force is the Payor Benefit Rider.
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