Arizona Life and Health Practice Exam

Who must sign a rider attached to a health insurance policy in order for it to be valid?

1. The policyholder only.

2. The Insured and Producer.

3. Any designated beneficiary.

4. The company's president.

The correct answer is: The Insured and Producer.

For a rider attached to a health insurance policy to be valid, it must be signed by both the insured and the producer. This requirement ensures that all parties are in agreement with the terms and changes established by the rider. The signature of the insured indicates acknowledgment and acceptance of the modifications or additional terms being added to the original policy. Meanwhile, the producer's signature signifies that the changes were facilitated in a proper manner, in line with the regulations governing such modifications. Having only the policyholder’s signature or the company's president’s signature does not provide the necessary endorsement from both the person affected by the policy (the insured) and the intermediary (the producer). Likewise, requiring a designated beneficiary’s signature is not typically necessary unless their rights or coverage directly relate to the changes made by the rider. Therefore, the joint signatures of the insured and producer reflect a mutual agreement and compliance with the relevant insurance protocols.