Texas Health and Life Insurance Exam Questions with 100% Correct Answers

Why does an insurer have a 2-year suicide clause? a) because the commissioner of insurance requires it. b) suicide is never paid for in life insurance. c)to prevent payment of an immediate claim for a person contemplating suicide. d) to help an insurer be more profitable. Correct Answer Answer: C To prevent payment of an immediate claim for a person contemplating suicide. Which of these could the owner of a life insurance policy do when there is a collateral assignment? a) determine how the dividends are used. b) cash surrender the policy. c) obtain another loan. d) cancel the policy. Correct Answer Answer: A Determine how the dividends are used. When only the insurer is allowed to alter an insurance contract, the clause that provides this is called? a) ownership b) entire contract c) consideration d) incontestable Correct Answer Answer: B Entire contract Which of these is required to reinstate a lapsed policy? a) obtain a loan b) fill out a new application c) pay a late fee d) provide evidence of insurability Correct Answer Answer: D Provide evidence of insurability The insuring clause in an adjustable life policy has all the following EXCEPT? a) insured b) insurer c) amount of premium d) amount of death benefit Correct Answer Answer: C Amount of premium Which of the following cannot request or make a change to alter a life insurance policy? a) the agent who wrote the policy b) the policy owner c) an executive officer of the insurer