Texas life and health FINAL EXAM REVIEW - Exam Questions and Answers (Latest Update 2025) Verified Answers If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - Correct Answers ✅pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is
disabled is called the: - Correct Answers ✅Waiver of
Premium P and Q are married and have three children. P is the primary beneficiary on Q's Accidental Death and Dismemberment (AD&D) policy and Q's sister R is the contingent beneficiary.P, Q, and R are involved in a car accident and Q and R are
killed instantly. The Accidental Death benefits will be paid to:
- Correct Answers ✅P only
Which of these statements accurately describes the Waiver of Premium provision in an Accident and Health policy? - Correct Answers ✅*Premiums are waived after the insured has been totally disabled for a specified time period (The Waiver of Premium provision waives the payment of premiums after the insured has been totally disabled for a specified period of time.) 1 / 3
Texas life and health FINAL EXAM REVIEW - Exam Questions and Answers (Latest Update 2025) Verified Answers All of the following provisions must be included in life insurance policies EXCEPT - Correct Answers ✅All of the following provisions must be included in life insurance policies EXCEPT Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? - Correct Answers ✅olicy was returned within the free-look period, premium will be fully refunded Who can purchase a plan through the Marketplace? - Correct Answers ✅Any legal resident except those incarcerated
A major medical policy typically: - Correct Answers
✅provides benefits for reasonable and necessary medical expenses, subject to policy limits Which of the following BEST describes a short-term medical expense policy? - Correct Answers ✅Nonrenewable A Whole Life Insurance Policy endows when the - Correct Answers ✅Cash value equals the death benefit 2 / 3
Texas life and health FINAL EXAM REVIEW - Exam Questions and Answers (Latest Update 2025) Verified Answers The insuring clause - Correct Answers ✅States the scope and limits of the coverage An insurer must provide an insured with claim forms within __ days after receiving notice of a loss. - Correct Answers ✅15 A Family Income Policy is a combination of Whole Life and - Correct Answers ✅Decreasing term insurance T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? - Correct Answers ✅$0 Which of these statements describe a Modified Endowment Contract (MEC)? - Correct Answers ✅Exceeds the maximum amount of premium that can be paid into a policy and still have it recognized as a life insurance contract What group term life feature permits an individual to depart from the group and continue to be covered without providing evidence of insurability? - Correct Answers ✅conversion
- / 3