Life Insurance Underwriting and Policy Issue

The process by which an insurer "saves age" is known as

Back Dating

How does a conditional receipt differ from a binding receipt?

Binding receipts always provide insurance which starts from the date of receipt

When an insurance company requests an attending physician's report, the request must be accompanied by a

Copy of the signed authorization

Which of the following types of information is NOT required for a Life Insurance appliation?

Ethnicity

Which of the following statements about the Fair Credit Reporting Act is correct?

It provides that consumers have the right to question reports made about them by investigative agencies

The Medical Information Bureau consists of

Life and Health Insurance Companies

Most U.S. Life Insurance Companies belong to the

Medical Information Bureau

What are members of the Medical Information Bureau (MIB) required to report?

Medical aliments discovered during the uderwriting process

Which of the following Life Insurance classifications charges the highest premium?

Substandard

When an applicant applies for insurance, the process by which the insurer determines whether to issue a policy is called

Underwriting