214 Florida Insurance Exam Questions And Answers (Solved)

Once this period of time ends, an insurance company cannot contest the validity of a policy and must pay its death benefits, even if a policyowner had no insurable interest in the insured at the time of application. {Ans: All of the following statements are true in regards to the incontestability of a life insurance policy EXCEPT}Morbidity Rate {Ans: In reference to health insurance, which of the following is a factor when determining health insurance premiums?}Fixed-Period Option {Ans: In the event a whole life policy is cancelled or lapses due to nonpayment, all of the following nonforfeiture options are available to the policyowner EXCEPT}Which two life insurance riders can Bill purchase to guarantee that his policy will continue without further commitment from him and that income will be paid to him if he becomes totally and permanently disabled? {Ans: Waiver of premium and Disability Income Riders}This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? {Ans: United States v. Southeastern Underwriters Association (1944)}Living benefits {Ans: The cash value in a whole life policy is also considered to be the