Life policy provisions and clauses
Provisions are pure memorization and therefore free points. The exam pairs clauses that sound similar and run for the same length of time, so learn what each one actually does rather than just its duration.
| Incontestability | Two years; after it the insurer cannot contest for misstatement (s. 627.455, F.S.) |
| Suicide clause | Also two years — same clock, entirely different effect |
| Grace period | Not less than 30 days (s. 627.453, F.S.) |
| Reinstatement | Within 3 years of default (s. 627.459, F.S.); unavailable after cash surrender |
| Entire contract | No agent may alter terms; only a duly authorized officer, by endorsement (s. 627.460, F.S.) |
Where the point is lost: Incontestability and the suicide clause both run two years, which is exactly why they get confused. One limits the insurer's ability to contest; the other limits what it pays.
Life policy provisions and clauses
12 questions on policy provisions, each with an explanation and statute citation.
12 questions
Pass line: 70%, same as the real exam