Life insurance basics part two
Which of the following would provide an underwriter with information concerning an applicants health history?
Medical Information Bureau
Which of the following information about the applicant is not included in the general information section of the application for insurance
Medical background
Which part of an insurance application would contain information regarding the cause of the applicants deceased relatives
Medical information
And classifying a risk, the home office underwriting department will look at all the following, except
Applicant's past income.
An underwriter is reviewing the medical questions in the application and needs further information due to a medical situation. The applicant had in the past. What will the underwriter require?
Attending Physician Statement
Which of the following statements concerning buy sell agreement is true
Buy-sell agreements are normally funded with a life insurance policy
A key person insurance policy can pay for which of the following
Costs of training a replacement
The medical information bureau was created to protect
Insurance companies from adverse selection by high risk persons.
Who makes up the medical information bureau
Insurers
Which of the following statements regarding HIV testing for life insurance purposes is not true
Insurers are barred from requesting HIV testing
An insurer wants to obtain information from investigators regarding an applicant for insurance. What must the insurer do in order to legally acquire this information
Present the insured with a Disclosure authorization notice
Which of the following best details the underwriting process for life insurance
Selection, classification, and rating of risks
Which is generally true, regarding insureds, who have been classified as preferred risks
Their premiums are lower.
Attempting to determine how much insurance of family would require based upon their financial objectives is known as
needs approach
Another name for a substandard risk classification is
rated
