Which of the following policy features allows the insured to increase coverage periodically without showing proof of insurability?
A) Multiple indemnity clause
B) Guaranteed purchase option (GPO)
C) Disability clause
D) Viatical settlement
E) Accelerated benefits

Question

Quizplus · Accepted Answer

The policy feature that allows the insured to increase coverage periodically without showing proof of insurability is Guaranteed Purchase Option (GPO). This option is usually included in the policy at the time of purchase and allows the insured to increase their coverage at specified intervals, without undergoing the underwriting process again. This feature is helpful for those who anticipate a need for more coverage in the future, as they can ensure they have the coverage they need without worrying about being turned down due to changes in health or other factors.

Which of the Following Policy Features Allows the Insured to Increase