Question

All of the following provisions are mandatory under the uniform NAIC law, EXCEPT:

Option 1: Grace Period
Option 2: Incontestability Clause
Option 3: Reinstatement Clause
Option 4: Entire Contract Clause

Answer 1

The Entire Contract Clause is not mandatory under the uniform NAIC law.

Step-by-step explanation:

The NAIC (National Association of Insurance Commissioners) law includes several provisions that are mandatory for insurance policies. However, the one provision that is not mandatory under the uniform NAIC law is the Entire Contract Clause. This clause states that the insurance policy, along with any attached endorsements, constitutes the entire contract between the insured and the insurer.