Free Life Policy Provisions Options and Riders Practice Questions
Missouri Life, Accident & Health exam — 119 practice questions.
Subtopics: Misstatement of age, Suicide clause, Primary beneficiary, No surviving beneficiary, Common disaster, Spendthrift clause, Accelerated death benefit, Term rider, Payor benefit, Interest-only option, Fixed-period option, Assignment, Replacement - right to return, Replacement - same insurer, Policy loan interest, Policy loans, Suicide exclusion, War and aviation exclusions, Form approval, Group life - grace period, Group life - incontestability, Group life - statements, Group life - conversion, Group life - conversion notice, Group life - facility of payment, Universal life, Life advertising, Nonforfeiture, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Dividend options, Riders, Grace period, Reinstatement, Incontestable clause, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider, Incontestability, War exclusion, Aviation and avocation exclusions, Exclusions, Dividends, Accelerated benefits, Premium modes, Free look, Entire contract, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. Which life policy provision applies if the insured's age was stated incorrectly?
Misstatement of age provision
The misstatement of age provision adjusts the benefit to what the premium would have bought at the correct age.
2. Under Missouri law, if an insured dies by suicide within the one-year exclusion period stated in a life policy, the insurer will:
Return the premiums paid
RSMo 376.620 allows a suicide exclusion only for death within one year of issue and requires the insurer to promptly refund all premiums paid for the excluded coverage.
3. A primary beneficiary is best described as the party who:
Has the first right to the death proceeds
The primary beneficiary has the first right to receive the death proceeds upon the insured's death.
4. If no named beneficiary survives the insured, the death proceeds are generally paid to:
The insured's estate
When no named beneficiary survives, proceeds are generally paid to the insured's estate.
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Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
