Practice question
An insurance policy existed when RA6809 became effective and contained a provision favorable to minors. The issuer relies on the amendment alone to give it prejudicial retroactive effect against the protected beneficiary. What provision directly answers?
- Section4’s protection of existing favorable instruments
- A rule that every policy automatically expires
- The company’s logo
- Only the issuer’s preference
- A universal exemption from insurance law
Legal references
- RA6809: https://lawphil.net/statutes/repacts/ra1989/ra_6809_1989.html Sections1–5, including transitional protection of existing favorable instruments.
Answer this question in flashcards to review your response and continue practicing.