During the first two years a life insurance policy is in force, the insurer may contest a policy for all of the following reasons EXCEPT

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During the first two years a life insurance policy is in force, the insurer may contest a policy for all of the following reasons EXCEPT

a) Misstatement of age in the application
b) Material misrepresentation in the application
c) Fraud in the purchase of the policy
d) Material concealment in the purchase of a policy

Answer: a) Misstatement of age in the application

WA Life Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive?

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