LLQP (Life Licence Qualification Program) Practice Exam · Question
Which of the following is an exception to the 'Incontestability' clause in a life insurance contract?
The 'Incontestability' clause prevents the insurer from voiding the policy due to misrepresentation after it has been in force for two years, unless the misrepr
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Question: Which of the following is an exception to the 'Incontestability' clause in a life insurance contract?
Answer options:
- Suicide
- Misstatement of age
- Failure to disclose a minor illness unknowingly ✅ Fraudulent misrepresentation of a health condition
Correct answer: Fraudulent misrepresentation of a health condition
Explanation: The 'Incontestability' clause prevents the insurer from voiding the policy due to misrepresentation after it has been in force for two years, unless the misrepresentation was fraudulent. Misstatement of age is handled differently (adjusting the benefit).
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- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
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