Texas life and health 2023 Exam 2026
Questions and Answers
A father owns a life insurance policy on his 15-year-old daughter. The policy
contains the optional Payor Benefit rider. If the father becomes disabled, what will
happen to the life insurance premiums?
A The insured will have to pay premiums for 6 months. If at the end of this period
the father is still disabled, the insured will be refunded the premiums.
B The insured's premiums will be waived until she is 21.
C The premiums will become tax deductible until the insured's 18th birthday.
D Since it is the policyowner, and not the insured, who has become disabled, the
life insurance policy will not be affected. - ANSWER- B. The insured's premiums
will be waived until she is 21. - Correct answer-B The insured's premiums will be
waived until she is 21.
Which of the following policy components contains the company's promise to pay?
A Entire contract provision
B Insuring clause
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,C Premium mode
D Consideration clause - ANSWER- B. Insuring Clause - Correct answer-
ANSWER- B. Insuring Clause
Which nonforfeiture option provides coverage for the longest period of time? A
Extended term
B Paid-up option
C Accumulated at interest
D Reduced paid-up - - Correct answer-ANSWER- D. Reduced Paid-Up
The validity of coverage under a life insurance policy may not be contested, except
for nonpayment of premium, after the policy has been in force for at least how
many years?
A 1 year
B 2 years
C 5 years
D 7 years - Correct answer-- ANSWER- B. 2 years
Which of the following is TRUE about nonforfeiture values?
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, A A table showing nonforfeiture values for the next 10 years must be included in
the policy.
B Policyowners do not have the authority to decide how to exercise nonforfeiture
values.
C They are required by state law to be included in the policy.
D They are optional provisions. - - Correct answer-ANSWER- C. They are
required by state law to be included in the policy.
What is the term for how frequently a policyowner is required to pay the policy
premium?
A Consideration
B Mode
C Schedule
D Grace period - - Correct answer-ANSWER- B Mode
An insured will be allowed to reactivate her lapsed life insurance policy if action is
taken within a certain period of time, and proof of insurability is provided. Which
policy provision allows this?
A Waiver of premium provision
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Questions and Answers
A father owns a life insurance policy on his 15-year-old daughter. The policy
contains the optional Payor Benefit rider. If the father becomes disabled, what will
happen to the life insurance premiums?
A The insured will have to pay premiums for 6 months. If at the end of this period
the father is still disabled, the insured will be refunded the premiums.
B The insured's premiums will be waived until she is 21.
C The premiums will become tax deductible until the insured's 18th birthday.
D Since it is the policyowner, and not the insured, who has become disabled, the
life insurance policy will not be affected. - ANSWER- B. The insured's premiums
will be waived until she is 21. - Correct answer-B The insured's premiums will be
waived until she is 21.
Which of the following policy components contains the company's promise to pay?
A Entire contract provision
B Insuring clause
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,C Premium mode
D Consideration clause - ANSWER- B. Insuring Clause - Correct answer-
ANSWER- B. Insuring Clause
Which nonforfeiture option provides coverage for the longest period of time? A
Extended term
B Paid-up option
C Accumulated at interest
D Reduced paid-up - - Correct answer-ANSWER- D. Reduced Paid-Up
The validity of coverage under a life insurance policy may not be contested, except
for nonpayment of premium, after the policy has been in force for at least how
many years?
A 1 year
B 2 years
C 5 years
D 7 years - Correct answer-- ANSWER- B. 2 years
Which of the following is TRUE about nonforfeiture values?
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, A A table showing nonforfeiture values for the next 10 years must be included in
the policy.
B Policyowners do not have the authority to decide how to exercise nonforfeiture
values.
C They are required by state law to be included in the policy.
D They are optional provisions. - - Correct answer-ANSWER- C. They are
required by state law to be included in the policy.
What is the term for how frequently a policyowner is required to pay the policy
premium?
A Consideration
B Mode
C Schedule
D Grace period - - Correct answer-ANSWER- B Mode
An insured will be allowed to reactivate her lapsed life insurance policy if action is
taken within a certain period of time, and proof of insurability is provided. Which
policy provision allows this?
A Waiver of premium provision
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