Question 2010 of 287 · Texas Life, Accident and Health Agent Exam
The free look provision gives the policyowner
Exactly one answer is correct.
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Correct answer to question 2010
- B: a short period after delivery to cancel the policy and receive a refund of premium
Explanation
The free look period allows the owner to examine the policy and return it for a full premium refund. Texas rules set the minimum free look period for life policies, so applicants should be told of it at delivery.
More questions: Life: Riders, Provisions, Options and Exclusions
- 2011The grace period in a life policy allows
- 2012The automatic premium loan provision
- 2013Premium payment modes refer to
- 2014Reinstatement of a lapsed life policy usually requires
- 2015A policy loan from a whole life policy
- 2016Which nonforfeiture option provides a paid-up policy of the same type as the original, with a reduced face amount?