I was taking a practice test for my life insurance exam that was created by an instructor who has been teaching insurance for over 40 years, and I think I MIGHT have come across a question with all incorrect answers choices.

I didn’t ask the instructor because I’m not in their class anymore. I finished the class 10 months ago but I’m just now getting ready to take the exam because some things happened and I lost focus.

Anyway, correct me if I’m wrong… because I’m genuinely confused. The question asked:

“Which one of these will Term Insurance NEVER provide?” And the answer choices were: “death protection”, “low premiums”, “temporary protection,” and “a living benefit.”

I immediately knew that the answer had to be “a living benefit” because the other answers were very obviously incorrect. I chose that answer and it was indeed correct.

But I also thought how could that possibly be correct when I currently have a term life insurance policy with living benefits. I have an accelerated death benefit rider, chronic illness rider, and critical illness rider on my policy and each of them would pay me a specific amount while I’m still living if I were to actually get sick with any qualifying illness.

Am I wrong? Is the exam wrong/outdated? Do those riders on my policy not classify as living benefits? If not, then what?

submitted by /u/PinkNerdz
[comments]