Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
An agent must state the grace period for a Florida individual life policy and for a group life policy. What are the two figures?
Answer and explanation
Answer: D. Section 627.453 sets not less than 30 days for any premium after the first under an insurance contract, while section 627.559 entitles a group life policyholder to 31 days for any premium except the first. The figures differ by one day and run the opposite way from the third choice.Source: Fla. Stat. § 627.453 — 627.559 compared with 627.453
More florida statutes, rules, and regulations pertinent to life and annuity insurance, including variable products questions
- A Florida policy names the insured's own estate as beneficiary, and the insured dies with unpaid debts. How does the creditor exemption apply?
- A Florida policyowner asks which sections govern taking a policy loan and restoring a lapsed policy.
- A Florida policyowner pays a premium late but within the grace period. What may the insurer charge on the overdue amount?
- A Florida policyowner stops paying premiums on a cash-value policy and asks what the law guarantees.
- A Florida replacement involves two insurers. Which rule speaks to each?
- A Florida settlement is conditioned on the claimant executing a release, and the claimant delays signing. When does interest begin to run?
589 Florida questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.