Chapter 4

Question 1

Contactal _______ Explain what the contract consists of, how the policy works, etc.

Answer 1

Provisions or Clause

Question 2

Contract consists of

Answer 2

The Policy
Riders
Amendments
A Copy of the Aplication

Question 3

Incontestability Clause

Answer 3

After 2 years the insurer may no longer contest a claim or void the contract

Question 4

Suicide Clause

Answer 4

If the insured commits suicide within 2 years of the issue date the insurer’s liability is limited to a refund of premium

Question 5

Automatic Premium Loans (APL) enables the insurer to automatically borrow against the __________ to cover a premium payment to print the contract from lapsing unintentionally.

Answer 5

Cash Value