Question 2035 of 287 · Texas Life, Accident and Health Agent Exam

A common disaster (simultaneous death) provision is intended to

Exactly one answer is correct.

Apay the proceeds to the insurer if both die together
Bpresume the primary beneficiary died first if both die in the same event and the order is uncertain
Callow the insured to name a beneficiary after death
Ddouble the benefit when the insured and beneficiary die in a disaster, based on the company's internal procedures

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Correct answer to question 2035

B: presume the primary beneficiary died first if both die in the same event and the order is uncertain

Explanation

The Uniform Simultaneous Death Act assumes the beneficiary did not survive the insured when the order of death cannot be determined, so the proceeds go to the contingent beneficiary. Without it, the proceeds could pass through the beneficiary's estate.

2036Naming a minor child directly as beneficiary can create problems because
2037Designating a beneficiary by class (for example, 'my children') means
2038Premium payment for a 'flexible' premium policy means that
2001A waiver of premium rider on a life policy provides that
2002A guaranteed insurability rider allows the insured to
2003A payor benefit rider is most often attached to a policy on

A common disaster (simultaneous death) provision is intended to

Correct answer to question 2035

Explanation

More questions: Life: Riders, Provisions, Options and Exclusions