Policy Riders, Provisions, Options, and Exclusions
An insured dies by suicide during the policy's valid initial suicide exclusion period. What minimum settlement does the Compact standard require?
Answer and explanation
Answer: B. During the initial suicide exclusion period, the Compact standard requires at least a refund of premiums paid, less dividends paid, indebtedness, and partial withdrawals. The full death benefit may be excluded under the policy terms.Source: Interstate Insurance Product Regulation Commission — Individual Flexible Premium Adjustable Life Insurance Policy Standards — § 3 > CC. Suicide (4)
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