Completing Application, Underwriting, And Deliveriing

Question 1

Another name for a substandard risk classification is

Answer 1

Rated

Question 2

Who makes up the Medical Information Bureau?

Answer 2

Insurers

Question 3

Which is generally true regarding insureds who have been classified as preferred risks?

They can borrow higher amounts off of their policies
They can decide when to pay their monthly premiums
They keep a higher percentage of any interest earned on their policies
Their premiums are lower

Answer 3

Their premiums are lower

Question 4

Which of the following will be included in a policy summary?

Copies of illustrations and application
Comparisons with similar policies
Primary and secondary beneficiary designations
Premium amounts and surrender values

Answer 4

Premium amounts and surrender values

Question 5

What is the purpose of the buyers guide?

Answer 5

To allows the consumer to compare the costs of different policies