Questions and Answers
K is shopping for a permanent life insurance policy that will offer her the most protection per dollar of annual premium. Which of these policies best fits her needs?
When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n)
exclusion
What Period clause is used to avoid unintentional lapse of a life insurance policy?
Grace Period Clause
Study Notes
Permanent Life Insurance Options
- Straight Life offers maximum coverage per dollar of premium, making it ideal for those seeking extensive protection.
Insurance Policy Conditions
- Exclusion clauses indicate specific risks that an insurer will not cover under a policy, emphasizing the need for policyholders to understand limitations.
Policy Maintenance
- The Grace Period Clause prevents unintentional lapses in life insurance coverage, providing policyholders additional time to pay premiums without losing benefits.
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Description
Prepare for the Florida Life Insurance State Exam with these flashcards. Discover essential terms and concepts related to life insurance policies, coverage exclusions, and more to help you succeed. Perfect for study sessions and quick reviews.
