Which of the following best describes an amendment to a contract?

• A. Waive a contract provision
• B. Change the insured's name
• C. Increase the policy's death benefit
• D. Cancel the policy

Answer: (A)

An amendment is a modification to the contract’s terms. When you waive a contract provision, you’re effectively changing how the contract works by removing or suspending a requirement that previously applied. That’s a direct alteration of the agreement’s terms, which is exactly what an amendment does.

Changing the insured’s name is typically a clerical update or endorsement to reflect a name change, not a modification of the contract’s substantive terms. Increasing the death benefit changes coverage and usually involves an endorsement or rider and underwriting considerations, so it’s more than a simple amendment. Canceling the policy ends the contract rather than altering it, so it’s not an amendment either.