Question

Which of these provisions is not required in life insurance policies?

a) Grace period
b) Beneficiary designation
c) Entire contract clause
d) Contestability clause

Answer 1

The provision that is not required in life insurance policies is the grandfather clause.

Step-by-step explanation:

The provision that is not required in life insurance policies is the grandfather clause. A grandfather clause is a provision that allows a person to be exempt from new rules or requirements if they were already participating in or affected by a previous version of those rules or requirements. However, in life insurance policies, there is no requirement for a grandfather clause.