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IFSE Institute Life License Qualification Program (LLQP) LLQP Question # 55 Topic 6 Discussion

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IFSE Institute Life License Qualification Program (LLQP) LLQP Question # 55 Topic 6 Discussion

LLQP Exam Topic 6 Question 55 Discussion:
Question #: 55
Topic #: 6

Melissa owns a disability insurance policy from Clarity Life. She makes her premium payment on the second day of each month, but this month, she misses the payment deadline. A week passes before she realizes her oversight. She makes a frantic call to Jonathan, a Clarity Life customer service representative. Jonathan explains about notices of termination. Which of the following responses is CORRECT?
A.

Melissa's policy was cancelled 24 hours after she missed her payment, and Clarity mailed her a notice of termination.

B.

Melissa's policy would only be cancelled 30 days after the due date of her missed premium payment.

C.

Melissa's policy has a grace period and would not be cancelled until 10 days after Clarity Life mails her a notice of termination.

D.

Melissa's policy has a grace period and would not be cancelled until 15 days after Clarity Life mails her a notice of termination.

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Actual exam question for IFSE Institute LLQP exam by Aspen60416 at Aug 3, 2025, 12:00:00 AM

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