Policy Riders, Provisions, Options, and Exclusions
A Texas life policy has remained in force for more than two years. A claim is filed based on information from the original application. What is the ordinary effect of the incontestability period?
Answer and explanation
Answer: B. After the ordinary two-year contestable period has passed while coverage remains in force, the insurer generally cannot contest the policy based on the original application. Specific contractual and legal exceptions still control.Source: Texas Department of Insurance — Life Insurance Guide — How life insurance pays the death benefit > contestable period after two years
More policy riders, provisions, options, and exclusions questions
- What restriction applies to an owner who names an irrevocable beneficiary?
- What right does a guaranteed insurability rider (GIR) grant to the policyowner?
- What standard requirements must a policyowner satisfy to reinstate a lapsed life insurance policy?
- When an increasing term rider is added to a whole life policy to provide a return-of-premium death benefit, what does the total benefit equal at death?
- When does the free-look period for a newly delivered life insurance policy begin?
- When is a contingent beneficiary generally next in line to receive life insurance proceeds?
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