Chapter 5. Field Underwriting Procedures Flashcards
What is the entire contract in health insurance underwriting?
The application and the policy issued
Who must sign a health insurance application?
The policyowner, the insured (if different), and the agent
Whose responsibility is it to inform an applicant for health insurance about the insurer’s information gathering practices?
The agent
What is the term used for a written request for an insurer to issue an insurance contract based on the provided information?
Application
In health insurance, the policy itself and the insurance application form what?
The entire contract
When should an agent obtain a Statement of Good Health from the insured?
When the premium was paid upon policy delivery and not at the time of application
Who is responsible for paying the cost of a medical examination required in the process of underwriting?
Insurer
If an insurer decides to obtain medical information from different sources in order to determine the insurability of an applicant, who must be notified of the investigation?
The applicant
What information are the members of the Medical Information Bureau required to report?
Adverse medical information about the applicants or insured
What entities make up the Medical Information Bureau?
Insurers
If an underwriter requires extensive information about the applicant’s medical history, what report will best serve this purpose?
Attending Physician’s Statement
What is the best way to make a change on an application for insurance?
Start over with a fresh application
If an agent makes a correction on the application for health insurance, who must initial the correct answer?
The applicant
