Free Life Policy Provisions Options and Riders Practice Questions
Texas General Lines — Life, Accident, Health & HMO exam (series InsTX-LAH05) — 95 practice questions.
Subtopics: Free look, Grace period, Incontestability, Reduced settlement exceptions, Reinstatement, Misstatement of age, Entire contract, Policy loan, Nonforfeiture, Policy loans, Time for settlement, Nonforfeiture options, Accelerated benefits, Replacement, Replacement violations, Illustrations, Advertising, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Dividend options, Riders, Incontestable clause, Suicide clause, Primary beneficiary, 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, War exclusion, Aviation and avocation exclusions, Exclusions, Dividends, Premium modes, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. The minimum free-look period for an individual life policy in Texas is:
10 days
TDI tells consumers that Texas life policies have a free-look period of at least 10 to 20 days, so the minimum is 10 days.
2. A Texas individual life policy must provide a premium grace period of at least:
31 days
A life policy must provide a grace period of at least one month; if expressed in days, at least 31 days.
3. A Texas life policy becomes incontestable after it has been in force during the insured's lifetime for:
2 years
After 2 years the insurer generally cannot contest the life policy for misstatements.
4. Which cause of death may a Texas life policy use to pay a settlement less than the face amount?
Death by the insured's own hand, sane or insane
A reduced settlement is permitted only for suicide (sane or insane), a hazardous occupation stated in the policy, or specified aviation activities.
All General Lines — Life, Accident, Health & HMO topics
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.
