American_Bankers_Association
CTFA · Question #6
CTFA Question #6: Real Exam Question with Answer & Explanation
The correct answer is A. Alter the cost of the cover. See the full explanation below for the reasoning.
Question
If an income protection insurance (PHI) policy has reviewable premiums, this usually means that the insurance company can:
Options
- AAlter the cost of the cover
- BWithdraw cover on any anniversary date
- COnly increase premiums in line with inflation
- DPay benefits for less than the full period of incapacity
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