PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM Questions With 100% Correct Answers (2024 / 2025) {Questions and} (Verified by Experts)
Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? - ANSWER Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter as is reasonably possible? - ANSWER Notice of claim. When will a policy pay on a UCR basis? - ANSWER When particular benefits are not listed on a payment schedule. All of the following are non-forfeiture options EXCEPT - ANSWER Cash dividend option. What happens when the lifetime maximum benefit limit has been reached? - ANSWER The insured will pay all of the remaining medial costs for as long as the policy is in force.
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