If Lindsey lets her life insurance policy lapse, and then decides to later reinstate it, what happens with respect to the two-year suicide clause that was in the original policy?
A) It restarts with the date of reinstatement, and runs for another two years.
B) It restarts, but only runs for one year.
C) Nothing
D) It restarts, but only runs the length of time that passed between the lapse and the reinstatement.
Correct Answer:
Verified
Q27: Cheryl buys a life insurance policy with
Q28: The age of the beneficiary is a
Q29: The owner of a life insurance policy
Q30: The suicide clause states that the life
Q31: The incontestable clause means that the insurer
Q33: The guaranteed insurability option allows the insured
Q34: One life insurance nonforfeiture option may result
Q35: Kayla buys a whole life policy when
Q36: One life insurance nonforfeiture option allows the
Q37: The incontestability clause in life insurance primarily
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents