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Life Insurance Policy

?

if a policy includes the provision on conformity with state statutes, and the state changes the law to be in conflict with another provision of the policy

the policy will automatically be void
the provision will be automatically grandfathered and able to stay the same
the insurer will be able to apply for a grandfather provision for those policies already in force
the provision will automatically be amended to conform to the minimum requirement of the statutes

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (D)
the provision will automatically be amended to conform to the minimum requirement of the statutes

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