Policy Riders, Provisions, Options, and Exclusions
What standard requirements must a policyowner satisfy to reinstate a lapsed life insurance policy?
Answer and explanation
Answer: C. Reinstatement requires proof of insurability, payment of past due premiums plus interest, and loan settlement within the policy time window.Source: Texas Department of Insurance Guide — What if my policy lapses?
More policy riders, provisions, options, and exclusions questions
- An applicant discloses private-pilot activity during underwriting. How may an approved policy address that identified aviation risk?
- An applicant discloses work as a demolition blaster, and underwriting approves the policy with an occupation exclusion. Which provision is consistent with official life policy standards?
- An elected automatic premium loan provision is triggered, but available cash surrender value is less than the required loan plus interest. Which limitation applies?
- An insured and beneficiary die in quick succession, and the policy does not supply a different survival rule. What issue does a simultaneous-death rule resolve?
- An insured dies by suicide during the policy's valid initial suicide exclusion period. What minimum settlement does the Compact standard require?
- An insured dies during a Texas policy's two-year contestable period. The insurer discovers a material false application statement. What may the insurer do?
590 Texas questions like this one.
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