I.
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 The Most Common Standard Policy Provisions
- The Entire Contract
- The Insurance Clause
- Free Look Provision
- Consideration Clause
- Owner’s Rights
- Ownership
- Conversion of an Individual Policy
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 Print Section 1 *
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II.
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Beneficiary Designations
- Primary and Contingent Beneficiaries
- Tertiary Beneficiaries
- Individual and Class Beneficiaries
- Per Capita/Per Stirpes
- Child Guardianship and Minors as Beneficiaries
- Trusts as Beneficiaries
- Estates as Beneficiaries
- Inter-Vivos Trust
- Revocable and Irrevocable Beneficiaries
- Change of Beneficiary Provision
- Spendthrift Clause
- The Uniform Simultaneous Death Act
- Common Disaster Clause
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III.
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Premium Payment
Back Dating
Grace Period
Automatic Premium Loan Option
Reinstatement
Policy Loans, Withdrawals, and Partial Surrenders
Incontestability
Assignment
Suicide Clause
Misstatment of Age
Claim Provision
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Print Section 3 *
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IV.
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Policy Options
Nonforfeiture Options
Nonforfeiture Table
Reduced Paid-Up Option
Extended Term Option
Dividends and Dividend Options
- Participating Plans
- Nonparticipating Plans
Settlement Options
- Lump Sum Cash Settlement
- Interest Only
- Fixed Period Installments
- Fixed Amount Installments
- Life Income Options
Policy Exclusions
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Print Section 4 *
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V.
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| Take Chapter 6 Test
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