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Massachusetts life insurance exam flashcards

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The Massachusetts Life Producer exam gives 15 scored questions to "Massachusetts Laws and Regulations Pertinent to Life Insurance" and 15 more to laws for all lines. [1] These flashcards cover the life rules in chapter 175 of the Massachusetts General Laws that the outline points to. Each card shows the section of law so you can read it yourself.

Cover the answer, say yours, then check.

Policy provisions (175:132)

1. How long is the grace period in a Massachusetts life policy?
Thirty days, for any premium after the first year. The policy stays in full force during the grace period. (175:132(1)) [2]

2. Can the company charge interest for paying during the grace period?
Yes, at its option, but not more than six percent a year for the days of grace used. (175:132(1)) [2]

3. If the insured dies during the grace period before paying, what happens to the overdue premium?
It can be taken out of the policy's face amount in the settlement. (175:132(1)) [2]

4. When does a life policy become incontestable?
After it has been in force during the insured's lifetime for two years from its date of issue. There are listed exceptions, including nonpayment of premiums. (175:132(2)) [2]

5. What makes up the entire contract?
The policy and the application. A statement by the insured can be used against a claim only if it is in a written application and a copy is endorsed on or attached to the policy when issued. (175:132(3)) [2]

6. What if the insured's age was misstated?
The amount payable is what the premium would have bought at the correct age. (175:132(4)) [2]

7. How long after default can a policy be reinstated?
Within three years from the date of default, unless the cash surrender value was paid or the extension period ran out. The owner needs evidence of insurability and must pay overdue premiums and other debt, with interest not over six percent a year. (175:132(11)) [2]

8. How long must a life policy form be on file with the commissioner before it can be issued?
Thirty days, unless the commissioner approves it in writing sooner. (175:132) [2]

Free look and backdating

9. What is the free look on an individual life policy with a face amount under $25,000?
Ten days from delivery. The owner can cancel for any reason. (175:187H) [3]

10. What happens when the owner returns the policy during the free look?
Any premium paid is refunded and the policy is void from the beginning. (175:187H) [3]

11. How far back can a life policy be dated?
Not more than six months before the date of the original written application, if backdating would make the applicant rate at a younger age. (175:130) [4]

Loans and nonforfeiture

12. When does a policyholder become entitled to a policy loan?
After premiums have been paid for at least three full years. The loan is made on the sole security of the policy. (175:142) [5]

13. What is the loan interest limit?
The policy can allow a rate of not more than eight percent a year, or an adjustable maximum rate set by the insurer under the statute. (175:142) [5]

14. After a premium default, how long does the holder have to choose a nonforfeiture option?
Sixty days after the due date of the defaulted premium, and before the insured's death. (175:144) [6]

15. When is the cash surrender option available?
When premiums have been paid for at least three full years, except as section 146 provides. (175:144) [6]

Proceeds and riders

16. When does interest on death proceeds start?
Thirty days after the insured's death, at the insurer's rate for proceeds left on deposit. (175:119C) [7]

17. What rate applies if the insurer does not pay interest on deposits?
Six percent. (175:119C) [7]

18. Can a Massachusetts life policy include an accidental death benefit and waiver of premium?
Yes. The law allows a larger benefit for accidental death and waiver of premium or special benefits for total and permanent disability. (175:24) [8]

Group life conversion

19. How soon must a group member be told about a conversion privilege?
Within fifteen days after the event that triggers it. (175:134A) [9]

20. Notice is given late but within ninety days. What happens?
The time to convert is extended for fifteen days after the notice is given. (175:134A) [9]

21. No notice is given within ninety days. When does the privilege end?
At the end of the ninety days. (175:134A) [9]

Misrepresentation

22. When can a misrepresentation about health in a life application defeat the policy?
Only if it is material and made with actual intent to deceive, or if it increased the risk of loss. (175:186(b)) [10]

How to use these cards

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Prep Retention is independent and is not affiliated with Pearson VUE or the state.

Sources

Laws and exam documents quoted as of October 2026.

  1. Pearson VUE, Massachusetts content outlines 122301 (effective July 22, 2026): https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/122301.pdf
  2. M.G.L. c. 175, s. 132: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section132
  3. M.G.L. c. 175, s. 187H: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section187H
  4. M.G.L. c. 175, s. 130: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section130
  5. M.G.L. c. 175, s. 142: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section142
  6. M.G.L. c. 175, s. 144: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section144
  7. M.G.L. c. 175, s. 119C: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section119C
  8. M.G.L. c. 175, s. 24: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section24
  9. M.G.L. c. 175, s. 134A: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section134A
  10. M.G.L. c. 175, s. 186: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section186

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