Exam (elaborations)
ExamFX Life Insurance Policy Provisions, Options & Riders.
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ExamFX Life Insurance Policy Provisions, Options & Riders.
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ExamFX Life Insurance Policy Provisions, Options & Ridersprovisions - Answer--the rights and obligations of an insurance contract
riders - Answer--used to increase or decrease policy benefits and premiums
options - Answer--ways to invest or distribute a sum of money available in a life policy
absolute assignment - Answer--transfers all right of ownership to another person or entity
collateral assignemnt - Answer--transfers partial rights to another person
right to examine (free look) - Answer--10 days from delivery of policy
reinstatement - Answer--3 years after policy lapses
incontestability - Answer--after 2 years
per capita - Answer--evenly distributes benefits among the beneficiaries
per stripes - Answer--distributes to the (deceased) beneficiaries heirs
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