Question 11001 of 287 · Texas Life, Accident and Health Agent Exam

Under the Texas Insurance Code, an individual life policy must contain an incontestability clause making the policy incontestable after

Exactly one answer is correct.

Aone year from the date of issue, with an exception for fraud
Bthree years from the date of the first premium, with no exceptions, as agreed between the agent and the insurer
Cfive years from the date of issue, unless the insured dies
Dtwo years from the date of issue, except for nonpayment of premium

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Correct answer to question 11001

D: two years from the date of issue, except for nonpayment of premium

Explanation

The insurer cannot contest the policy after the stated period for misstatements in the application. Exceptions are limited, such as nonpayment of premium.

11002In a Texas individual life policy, the entire contract provision states that the policy and the application
11003Under Texas law, if a life insurance policy's age of the insured is misstated, the amount payable
11004A Texas life insurance policy must provide a grace period for each premium after the first of at least
11006A Texas life policy with cash value must provide for policy loans, and it may allow the insurer to defer a loan for a period not to exceed
11007The Texas standard nonforfeiture law requires that a life insurer offer
11008In Texas, a life insurance replacement occurs when

Under the Texas Insurance Code, an individual life policy must contain an incontestability clause making the policy incontestable after

Correct answer to question 11001

Explanation

More questions: Texas Law: Life Insurance Only