Texas Health and Life Insurance Exam A+ Graded solutions.

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. - 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. - 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 - 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 - 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 - 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 d) a person who has absolute assignment - Answer- Answer: A