Suppose a whole life insurance policy was issued on August 3. On August 31 two years later, the insured committed suicide. What action will the insurer probably take?
A) Return all premiums paid plus interest
B) Pay the policy's face amount minus premiums paid
C) Pay the policy's face amount
D) Return all premiums without interest"
Ans: C) Pay the policy's face amount
Business
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What will be an ideal response?
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If there is a conflict between state law and a provision in a homeowners policy,
A) the policy wording takes precedence. B) the state law takes precedence. C) the policyholder is entitled to whichever provides broader coverage. D) the policy is null and void.
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