Florida Life and Health Insurance License Practice Test

Which health policy provision states that the agent cannot change the policy or waive any of its provisions?

1. Incontestability

2. Grace Period

3. Entire Contract

4. Misstatement of Age

The correct answer is: Entire Contract

The Entire Contract provision in health policies states that the agent cannot change the policy or waive any of its provisions. This is because the Entire Contract provision ensures that all information and agreements between the insurance company and the policyholder are documented in the policy. This helps to prevent any misunderstandings or changes that may be made by the agent. Option A, the Incontestability provision, states that the insurance company cannot contest the policy after a certain period of time. Option B, the Grace Period provision, allows for a period of time after the premium due date for the policyholder to make a late payment without a lapse in coverage. Option D, the Misstatement of Age provision, allows the insurance company to adjust the policy if the policyholder has provided incorrect information about their age. These options are incorrect because they do not specifically address the agent's ability to change or waive policy provisions.