Policy Riders, Provisions, Options, and Exclusions
What maximum suicide exclusion period do the uniform standards allow?
Answer and explanation
Answer: C. The uniform standards maintain a maximum suicide exclusion period of up to two years, with an exception requiring a shorter maximum where state law requires it. The exclusion is therefore capped and may be shorter, never longer.Source: Interstate Insurance Product Regulation Commission — Individual Term Life Insurance Policy Standards — Uniform standards, Suicide exclusion
More policy riders, provisions, options, and exclusions questions
- An owner wants only the children who survive the insured to divide the class benefit equally, without preserving a deceased child's branch. Which designation most directly expresses that intent?
- An owner wants the original permanent insurance plan to continue for a smaller amount with no further premiums. Which nonforfeiture option fits?
- An owner wants to replace a named irrevocable beneficiary with someone else. What additional requirement applies?
- Does a grace period provision apply to the initial premium on a life policy?
- Flexible premium features in universal life policies allow the owner to perform which action?
- From what point does the period for returning a newly issued life policy for a full refund normally run?
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