New York State Life Insurance Exam Questions Practice Question
A change or modification to an accidental injury policy:
Correct Answer: C
Rationale: A change to an accidental injury policy must be approved by an officer of the insurer to ensure compliance with regulations and maintain the integrity of the policy. This oversight protects the insured's interests.
Option A is incorrect as modifications typically require the insured's awareness to ensure transparency. Option B is misleading; changes do not necessarily require premium increases, as adjustments can be administrative or clarifying. Option D is also wrong; while an agent may facilitate changes, final approval rests with the insurer's officer, not solely the agent.
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