What is the main function of the Future Purchase Option (FPO) Rider?

The Future Purchase Option (FPO) Rider is designed primarily to allow policyholders to increase their insurance benefits at specified intervals without the need for additional medical underwriting. This means that as a person’s financial or health situation changes, they have the flexibility to purchase additional coverage consistently and at predetermined times, often aligned with significant life events or changes in income. This rider provides a valuable opportunity for individuals to ensure that their insurance coverage keeps pace with their needs over time, which can be particularly important in areas such as accident and sickness insurance.

The other options address different functions that are not related to the FPO. For instance, converting term insurance to permanent insurance pertains to a different type of rider focused on the conversion of policy types. Providing cash value in case of hospitalization is not the function of the FPO; rather, it may relate to whole life policies or specific health insurance benefits. Covering legal expenses related to claims involves legal processes and does not connect to the function of the FPO, which is specifically about increasing coverage amounts. Thus, the Future Purchase Option Rider's main function of allowing increased quantities of benefits at specified times stands out as the correct understanding of its purpose.