Policy Riders, Provisions, Options, and Exclusions
What is the main purpose of a life policy's free-look period?
Answer and explanation
Answer: D. The free-look period lets the owner examine the delivered policy and cancel it within the stated period for a full refund. Texas consumer guidance says Texas policies provide at least a 10- to 20-day free-look period.Source: Texas Department of Insurance — Life Insurance Guide — Shopping for life insurance > Use your free-look period
More policy riders, provisions, options, and exclusions questions
- Which description best identifies the coverage supplied by a term rider?
- Which dividend option allows a participating policyowner to purchase additional small paid-up permanent coverage without evidence of insurability?
- Which exchange describes consideration in a life insurance contract?
- Which key details are summarized in the policy face page and insuring clause?
- Which life policy exclusion addresses death caused by hazards of the insured's specifically identified job?
- Which list contains common life insurance premium payment modes?
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