Completing the Application, Underwriting, Delivering Policies, Contract Law
How are statements made by an applicant on a life insurance application defined under Texas law?
Answer and explanation
Answer: B. Under TIC § 1101.005 and general insurance law, statements in an application are representations, not warranties.Source: Texas Insurance Code Chapter 1101 — § 1101.005, Statements as Representations
More completing the application, underwriting, delivering policies, contract law questions
- Under FCRA, if an insurer orders an investigative consumer report involving personal interviews regarding an applicant's character and lifestyle, when must written notice be sent to the applicant?
- Under FCRA, if an insurer takes an adverse underwriting action (such as declining or rating an applicant) based in whole or in part on a credit report, what notice must the insurer provide to the consumer?
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- Under HIPAA, what permits a covered health provider to disclose protected health information to a life insurer for coverage purposes?
- Under Texas Insurance Code Chapter 1111A, why are Stranger-Originated Life Insurance (STOLI) transactions illegal?
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