Ch 17: Disability App, UW, And Premiums Flashcards
1
Q
The likelihood of incurring disease or disability at any given time
A
Morbidity
2
Q
Who can make a change to an application?
A
The applicant
3
Q
When can anageng make a change on the application?
A
Only if it’s authorized and initiated by applicant
4
Q
Who can make a change to the insurance contract?
A
An authorized officer of the insurance company
5
Q
What are avocations?
A
Hobbies
6
Q
Medical expense insurance
An individual may make a deduction for medical expense only to the extent that such expenses exceed what percent of gross income? How about seniors for 65+?
A
10%, seniors 7.5%
