Web04. apr 2024. · Oklahoma law requires that misstatement-of-age provisions be included in each life insurance policy and recognizes the ability of an insurer, absent contractual … Web17) True, The age of a person is very important in a life insurance policy since your premiums are decided based on that. Hence, m … View the full answer Transcribed image text: Question 17 (1 point) A misstatement of age will result in the immediate termination of a life insurance policy.
Misstatement-of-age clause: What is Misstatement-of-age clause ...
Web14. A group for life insurance must be of at least a minimum size because: a. It will diminish the impact of one substandard life on results b. It will spread out the fixed costs of issuing and administering the policy c. Both a and b d. Neither a nor b 15. A misstatement of age by an applicant for life insurance: a. Your age plays an important role in determining adequate life insurance coverage. The older you are, the higher the premium that is charged. Therefore, if you lie about your real age to reduce your premiums you may pay a huge price for it. In this situation, your insurer may choose to cancel your policy … Pogledajte više The main aim of life insurance is to transfer wealth to your heirs or to provide liquidity to your family. For that reason, you need to … Pogledajte više According to this clause, after your death, the policy proceeds will go to the beneficiary— for example, your wife—but only if the … Pogledajte više If you haven't nominated a beneficiary in your policy, your insurance company will disburse the life insurance money to the individuals listed in your policy. Presume that the order of … Pogledajte više Your insurance company is entitled—usually during the first two years of the policy—to challenge the validity of your policy on … Pogledajte više how to heal dry eyes
LESSON 17: HEALTH INSURANCE POLICY PROVISIONS
Web2 days ago · Adding a kitten or puppy to your family can bring you lots of joy, but it can also bring lots of expenses. For example, if you need to have your pet spayed or neutered, it can cost $50 to $400 for ... WebIn an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that if the age of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated … Web22. sep 2024. · A misstatement of an insurance policy's age protection clause can be a massive financial mistake. ... Homeowners & Renters; Long Term Care; Disability; … how to heal ebv