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LIFE INSURANCE POLICY PROVISIONS, OPTIONS, & RIDERS
Rights of Policy Ownership
Various types of Policy Provisions
Exclusions
Concept of Non-forfeitures Value
Policy Dividends
Policy Riders, which are additions to the basic policy
Learning Objectives:
This chapter will focus on life insurance policy provisions, to include options and riders. You will come to understand that life insurance is property, and that policyholders have important rights. These rights are spelled out in the policy provisions, and you will come to understand how life insurance contracts can be customized.
