Final answer:
The Payor Benefit Rider typically appears on a juvenile life insurance policy to ensure that the policy stays in force if the payor dies or becomes disabled. This rider, along with the death benefit and cash value, are features designed to provide security for the insured child's future. The correct option is D.
Step-by-step explanation:
The rider that typically appears on a juvenile life insurance policy is the Payor Benefit Rider. This rider is important as it waives the premiums on a child’s policy if the person who is paying the premiums, often a parent or guardian, passes away or becomes disabled.
Unlike the other options, like the Accidental Death Benefit, Critical Illness Rider, or Term Conversion Rider, the Payor Benefit Rider specifically addresses the concern of ensuring that the child's policy remains in force despite financial hardship that may occur if the payor cannot make payments.
Cash-value (whole) life insurance policies provide both a death benefit and a cash-value component. The cash value represents an accumulated amount that can serve as an account for the policyholder's use, growing tax-deferred over time. While this feature is not directly linked to the Payor Benefit Rider, it is a characteristic of many juvenile policies that carry this rider.