Insurance Processes & If this then this Flashcards
When underwriting for group plans, does the underwriter look at the group as a whole or at the individuals
Group as a whole
When does insurable interest come into play in life insurance policy
When the applicant for the policy is not the insured
The right to change the beneficiary or disposed of the policy or its benefits in any manner on chooses is reserved to the to the policyowner unless what is true
The policyowner has named a irrevocable beneficiary
What happens after the application is submitted and the premium is paid
The underwriting begins
A basic vision care package doesn’t include
Safety glasses
Whose signature is not required on a life insurance application
Minor on juvenile policy
When policy or certificate containing accelerated benefit provision is applied for or delivered, producer is not responsible for
A detailed summary and comprehensive summary of the accelerated benefit
Under what situation must insurable interest exist between applicant and insured
When a third party applicant names themselves as beneficiary
What is used to protect the insurer if a dispute arises and applicant nor agent don’t recall any changes to application
The applicant and maybe the agent initial any changes made
If the insurers wished to share an applicant’s HIV status the applicant must not be given full notice of
The treatment procedures that are covered by the policy
Not a qualification for Social Security Disability benefits
Unable to work in occupation in which trained or educated
When there is a person insured by both their own and their spouse’s policy, whose policy pays at the time of sickness
Person pays first and spouse pays remaining
Obtaining consumer information reports under false pretenses is prosecutable by what
Fair Credit Reporting Act
