Arkansas Life and Health Insurance Practice Exam

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Prepare for the Arkansas Life and Health Insurance Exam. Utilize flashcards and multiple-choice questions with hints and explanations for each question. Get thoroughly ready for your certification test!

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The premium charged for new policies obtained by exercising the Guaranteed Insurability Rider is based upon the:

Age at issue
Attained age of the insured
Initial policy's premium
Medical exam results

The correct answer is: Age at issue

The premium charged for new policies obtained by exercising the Guaranteed Insurability Rider is based on the age at issue. This means that the premium will be calculated based on the insured's age at the time of purchasing the new policy, not the current age or any medical exam results. This rider allows the policyholder to increase coverage in the future without providing proof of good health, making it a valuable option for individuals who may anticipate needing more coverage as they age.