All of the Following Are Reasons an Insurer Can Contest

question 39

Multiple Choice

All of the following are reasons an insurer can contest a policy after the contestable period has ended EXCEPT

• A)The beneficiary purchased the policy with the intent of murdering the insured.
• B)An insurable interest did not exist at the inception of the policy.
• C)The applicant had someone else take the medical examination required for policy approval for her.
• D)The policyowner concealed a material fact at the time of application.

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Definitions:

Product Liability

A legal concept where manufacturers, distributors, suppliers, and retailers are held responsible for any injuries their products cause.

Premarket Approval Process

A rigorous FDA approval process required for certain medical devices to assess their safety and effectiveness before they can be marketed.

Government Regulation

The imposition of rules and directives by government agencies designed to control and direct the behavior of individuals, businesses, and other entities in the public interest.

Design Defect

A flaw or error in the design of a product that makes it dangerous or ineffective, potentially leading to consumer harm or product failure.