Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
A Florida group certificate covers an employee and a dependent spouse. Which statement about contesting the spouse's coverage is accurate?
Answer and explanation
Answer: C. Section 627.560 protects statements made by an insured person about eligibility from being used to contest validity after coverage has been in force two years during that person's lifetime, unless contained in a written instrument signed by that person, and section 627.5575 brings dependants within group life coverage. The protection therefore attaches to the covered person rather than lapsing for dependants.Source: Fla. Stat. § 627.560 — 627.560 read with 627.5575
More florida statutes, rules, and regulations pertinent to life and annuity insurance, including variable products questions
- An insured aged 68 misses a Florida individual life premium. In what order do the grace period and the lapse notice operate?
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- An insurer agrees a settlement in writing and then withholds payment for months without explanation. Which two Florida provisions bear on that?
- An insurer wishes to contest coverage on a group member after two years, relying on what the member said about eligibility. What does section 627.560 require?
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