Policy Riders, Provisions, Options, and Exclusions
What does a life policy's suicide provision generally limit?
Answer and explanation
Answer: A. A suicide provision limits the benefit when suicide occurs during the policy's stated initial exclusion period. Under the Compact standard, that period cannot exceed two years or a shorter period required by applicable law.Source: Interstate Insurance Product Regulation Commission — Individual Flexible Premium Adjustable Life Insurance Policy Standards — § 3 > CC. Suicide (1)–(4)
More policy riders, provisions, options, and exclusions questions
- If a policy contains a valid underwriting-based hazardous occupation exclusion and the insured dies from that excluded hazard, what must the insurer refund at minimum?
- If a policy is delivered by mail, how can the insurer prove valid delivery for free-look tracking under Texas guidelines?
- If a traditional policy uses the amount-purchased method for a misstated age, what is adjusted?
- In an insurance contract, what constitutes the applicant's legal consideration?
- Qualifying events for accelerated death benefits under Texas regulation include which condition?
- The insured is not the owner of a cash-value life policy. The insured asks to take a policy loan without the owner's authorization. Which response best reflects the parties' roles?
590 Texas questions like this one.
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