Section 7 Flashcards
An insurance policy may be issued with a preferred insurance premium in all of these situations except:
Good credit history
Living in a rural area
Good health history
Being a non-smoker
Living in a rural area
An insurance policy may be issued with a preferred insurance premium in all of these situations except…
- asking relevant questions concerning an applicants avocations
-Requesting an attending physicians report
Ordering an inspection report
-Determining the final rate classification
Determining the final rate classification
The initial premium for a life insurance policy is typically paid in what way?
It is typically obtained by the producer, and forwarded to the insurer
When must a producer provide disclosure about information practices to an applicant?
Prior to, or at the time of signing the application
When an applicant applies for a large amount of life insurance coverage which of the following would likely not be an underwriting requirement?
Consumer report
Eye examination
Urine sample
Blood sample
Eye examination
Which report contains information regarding an individuals general reputation and credit standing?
Consumer report
field underwriting by a producer…
May result in the disclosure of hazardous activities of the applicant
The reason for backdating a policy is…
To obtain a premium rate based on an earlier age
What must be given to a life insurance applicant when the agent receives an application and the initial premium?
Conditional receipt
Where is the difference between a standard risk and a substandard risk reflected?
Premium charges
