区别

问题如下：

Richard Lansky is an insurance and wealth adviser for individuals. Lansky’s first meeting of the day is with Gregory Zavris, age 27, a new client who works as a journalist. Gregory’s only asset is $5,000 in savings; he has $67,000 in liabilities. During the conversation, Lansky describes the concepts of financial capital and human capital, as well as the components of economic and traditional balance sheets. Gregory asks Lansky: On which balance sheet are my future earnings reflected? Gregory does not have medical insurance. He asks Lansky for advice regarding a policy that potentially would allow him to avoid paying for office visits related to minor medical problems.

In the afternoon, Lansky meets with Gregory’s parents, Molly and Kirk, ages 53 and 60. Molly is a tenured university professor and provides consulting services to local businesses. Kirk is a senior manager for an investment bank. Lansky determines that Molly’s income is more stable than Kirk’s.

Kirk and Molly discuss estate planning, and Lansky recommends a whole life insurance policy on Kirk’s life, with Molly responsible for paying the premiums. In the event of Kirk's death, Gregory would be entitled to the proceeds from the policy. Lansky explains that one feature of the policy provides for a portion of the benefits to be paid even if a premium payment is late or missed. Molly tells Lansky that she has recently been reading about annuities and would like to clarify her understanding. Molly makes the following statements.

Statement 1 Both deferred and immediate annuities provide the same flexibility concerning access to invested funds.

Statement 2 The income yield for a given amount invested in a life-only immediate annuity is higher for an older person than for a younger person.

At the end of the consultation, Molly asks Lansky for advice regarding her retired aunt, Rose Gabriel, age 69. Molly believes that Gabriel’s life annuity and pension benefits will provide enough income to meet her customary lifestyle needs. Gabriel lives in her mortgage-free home; her medical insurance plan covers basic health care expenses. Women in Gabriel’s family generally have long life spans but often experience chronic health problems requiring extended nursing at home. Therefore, Molly is concerned that medical expenses might exceed Gabriel’s net worth during her final years.

The whole life insurance policy feature described by Lansky is a:

选项：

A.

non-forfeiture clause.

B.

waiver-of-premium rider.

C.

guaranteed insurability rider.

解释：

A is correct.

The whole life insurance policy feature described is a non-forfeiture clause, whereby there is the option to receive some portion of the benefits if premium payments are missed (i.e., before the policy lapses).