optional policy provisions

What is optional policy provision number one

Change of occupation

What insurance does optional policy number one most likely apply to

Disability insurance

If the risk involved in an occupation affects the chances of the insured being disabled, the insurance company may make changes to premium rates or benefits. If the insured changes occupations what optional policy provision is this covered under

Optional policy provision number one/change of occupation

What is optional policy provision number two

Misstatement of age

Based on optional policy provision number two, the insurer will adjust benefits based on the correct age. If the insurance age is misstated in the application this means

If the insured is younger than stated on the application, benefits will increase, if the insured is older than stated in the application then benefits decrease

What is optional policy provision number? 3

Other insurance with this insurer

If an insured has optional policy provision number 3 and the total of all policies exceeds the maximum. What will the insurance company do

Reduce benefits to meet the maximum and refund access premiums

What is optional policy provision number 4

Same Insurance with other insurers

Under policy provision number 4. If an insured has coverage with two different insurers providing benefits for the same loss, the amount paid by the two insurers would be

Proportionately, prorated and excess premiums would be refunded

What is uniform policy provision number 5

Other insurance with other carriers

Under optional policy provision number 5 Who could be considered the other carrier

Insurance through government programs

What is optional policy provision number 6

Relation of earnings to insurance

What type of coverage does relation of earnings typically apply to

Disability insurance

Under optional policy provision number 6. If an insurance total disability income exceeds the greater of the insured's earnings at the time of disability, what happens

The benefit is reduced and the extra premiums are refunded

What is optional policy provision number 7

Unpaid premium

What clause is covered by optional policy provision number 7

If a premium is due at the time that a claim is paid, the amount of the premium is deducted from the benefit

What is optional policy provision number 8

Cancellation

What is covered under optional policy provision number 8

The insurer May cancel the policy at any time giving the insured 5 days written notice

In Kentucky, if an insured invokes uniform policy provision number 8, how does that change its policy

Is modified and made non- renewable

What is optional policy provision number 9

Conformity with State statutes

What is optional policy provision number 10

Illegal occupation

What is stated under optional policy provision number 10

The insurer is not liable for any loss but is caused by the insurance commission of or attempt to commit a felony

What is optional policy provision number 11

Narcotics

What is stated in optional policy provision number 11

The insurer shall not be liable for any loss sustained by the insured while under the influence of alcohol or narcotics unless taken under the advice of a physician