Cram sheet 2

Question 1

Backdating no more than

Answer 1

6months

Question 2

Producers Report

Answer 2

Completed by agent, not attached to policy if issued

Question 3

Conditional Report

Answer 3

Premium paid with with application, effective date, when signed or med exam if required. Must be standard or preferred risk

Question 4

Binding Reciept

Answer 4

Temp. Not common in Life Insurance

Question 5

Underwriting Source of Info

Answer 5

Application (primary), Medical exam, APS Attending physician, AIDS test, MIB, Consumer report

Question 6

AIDS

Answer 6

Not ask about sexual orientation, testing not based on geo location, requires insured written consent

Question 7

MIB Medical Info Bureau

Answer 7

Cant be denied solely on MIB, must be informed of MIB, MIB gets info from insurance companies

Question 8

Consumer Report

Answer 8

Must be informed

Question 9

Investigative

Answer 9

Must give consent

Question 10

RISK Classification

Answer 10

Standard, Preferred, Substandard, Declined

Question 11

Statement of Good Health

Answer 11

Required if no premium with application, if health changed cant be delivered

Question 12

STOLI

Answer 12

Banned in most states, investors named as beneficiaries