Life Flashcards
(9 cards)
1
Q
Free Look for Life Insurance
A
10 Days
2
Q
Grace period for individual life insurance
A
30 days
3
Q
Maximum allowable charge of overdue premiums
A
6%
4
Q
Insurers must pay interest if the death benefit has not been paid within ___ months of the claim
A
2 months
5
Q
Maximum life expectancy for a terminally ill insured to qualify for accelerated benefits
A
24 months
6
Q
Replacing insurers must send notice to all existing insurers within how many days?
A
3 days
7
Q
When replacing insurers, there is a longer free look provision. How long is it?
A
20 days
8
Q
Records must be retained for at least how many years?
A
3 years
9
Q
A
