Chap4 Flashcards
W/Fair crediting reporting act
When Producer must notify an applicant that credit report may be requested
Time of application
Initial interview
When policy delivered
Time of application
What term used for applicants written request to insurer for company to issue contract based on info provided
Request for ins
App
Policy request
Ins request form
Application
Policy and policy application and added riders form is
Blanket policy
Entire contract
Certificate of coverage
contract of adhesion
Entire contract
On health ins application signature required from all individuals except
Proposed insured
Policyowner
Agent
Spouse of policyowner
Spouse
Term used for applicants written request for company to issue contract based on info provided
Request for ins
Application
Policy request
Ins request form
Application
Best way to change application
Start over with Fresh application
Which can legally bind coverage
Insured
Federal ins bond
Agent
Insurer
Insurer
Applicant for health insurance policy returns completed application to agent with check for first premium. Gets conditional receipt two weeks later. Which has been done by insurer
Approved app
Issued policy
NEither approved nor issued
Both approved and issued
Neither approved nor issued
Conditional rec= not yet approved app and issued policy
Agent ready to deliver policy but hasn’t received payment. Upon delivery agent collects premium check answers questions and leaves
What did he forget
Ask her to sign good health statement
Offer a secondary policy
Sign statement that acknowledges that policy has been delivered
Collect late fee
Sign statement of good health
Acknowledging insureds health has not changed since policy approved
WHO responsibility to determine all questions on app answered
Agent
Insurer attempting to determine insurability of applicant and obtains medical information from several sources … which entity mst be notified of investigation
State department of insurance
Medical examiner
Applicant
Applicant
True regarding obtaining underwriting sources
Applicant must be informed of sources contacted and how information being gathered
Illegal to obtain info outside sources to determine insurability
Insurer does not need to inform applicant of how information is gathered
Applicant must be informed of sources contacted and how Info gathered
Who pays for cost of medical exam in process of underwriting
Insurer
Applicant
Underwriters
Department of ins
Insurer
Document describes medical history including diagnoses and treatments
Physicians review
Individuals medical summary
Attending physicians statement
Attending physicians statement
True about hiv exams
Must give prior informed written consent
Results may be disclosed to agent and underwriter
HIV exams may not be used as basis for underwriting
Must give prior informed written consent