PSI Insurance Exam Questions and Answers Rated A+

What is it called when a life insurance policy pays a multiple of the coverage amount when certain types of accidents occur? multiple indemnity Upon the issuance of a conditional receipt for a renewal when the premium is paid AFTER the time granted by the insurer, what is the maximum amount of time for reinstatement of the policy? 30 days Which of the following statements regarding a pure life annuity payout option is correct? This option provides the highest monthly income. Which of the following does not apply to the time limit on certain defenses provision in health insurance policies? fraudulent misstatements If an individual is insured by both their own health insurance policy and their spouse's policy, which policy pays first in the event of an illness? The individual's policy pays first, the spouse's policy pays the remaining up to coverage amount