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Life and Health Insurance Producer Exam

Policy provisions (TX): practice questions

Our Life & Health Insurance bank has 7 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Texas

For what reason may a reinstated Texas life policy be contested?

  1. Any late premium payment, at any time while the policy remains in force
  2. Any reason at any time
  3. Only material, fraudulent misrepresentation, within two years of reinstatement
  4. It may never be contested
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C. Only material, fraudulent misrepresentation, within two years of reinstatement — This is a Texas rule on reinstatement.

Question 2 · Texas

What usually happens if a Texas insured dies by suicide in the first two years of a policy?

  1. The full benefit is paid
  2. The death benefit usually isn't paid
  3. Double the benefit is paid to the beneficiary
  4. The agent pays the benefit
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B. The death benefit usually isn't paid — After two years, the benefit is paid whatever the cause.

Question 3 · Texas

Does reinstating a lapsed Texas life policy start a new contestable period?

  1. Only for group policies
  2. Yes
  3. Only if the agent changes
  4. No, never
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B. Yes — Most companies reinstate within five years if premiums and interest are paid.

Question 4 · Texas

What grace period must a Texas life insurance policy give for premiums after the first?

  1. None; coverage ends the day after a missed premium unless a rider was bought
  2. At least one month (31 days if stated in days)
  3. At least 90 days
  4. At least 7 days
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B. At least one month (31 days if stated in days) — The policy stays in force during the grace period.

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