Free Life Policy Provisions Options and Riders Practice Questions
Georgia Life, Accident & Health exam (series 12-GA-05) — 111 practice questions.
Subtopics: Entire contract, Misstatement of age, Suicide exclusion, Dividend options, Guaranteed insurability rider, Automatic premium loan, Grace period, Incontestability, Reinstatement, Policy loans, Payment of claims, Dividends, Exclusions, Incontestability scope, Reinstatement contestability, Free look, Interest on proceeds, Creditor protection, Slayer rule, Group life grace period, Group life conversion, Group life incontestability, Group life funeral payment, Group life eligibility, Noncontributory group life, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Riders, Incontestable clause, Suicide clause, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider, War exclusion, Aviation and avocation exclusions, Accelerated benefits, Premium modes, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. The entire contract provision means the contract consists of:
the policy and the attached application
The entire contract is the policy together with any attached application; outside documents cannot be incorporated by reference.
2. If an insured understated their age on a life application, at death the insurer will:
adjust benefits to the correct age
The misstatement of age provision adjusts the benefit to the amount the premium paid would have bought at the correct age.
3. Georgia permits an individual life policy to exclude death by suicide, sane or insane, only if it occurs within how long after the issue date?
Two years
The only permitted suicide exclusion is for death within two years from the date of issue; when it applies, the insurer must still pay at least the policy reserve.
4. Dividend options on a participating whole life policy allow the owner to:
cash, premium reduction, or paid-up additions
Participating policy dividends may be taken in cash, applied to premiums, used to buy paid-up additions, or accumulated at interest.
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Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
