Quiz 5

What document describes in insured's medical history. including diagnosis/treatment

Attending physician statement

The insurance policy together with the policy application and any added riders form what is known as

Entire contract

What is the term used for applicant written request to an insurer for the company to issue a contract based on information required?

Application

Which of the following unities can legally bind coverage

Insurers

Whose responsibility is it to determine if all of the questions on an application have been answered

The Agent

Which is true regarding obtaining underwriting sources?

Applicant must be informed of the sources contracted and how the information is being gathered

When delivering a policy which of the following is an agents responsibility?

Collect payment at time of delivery -The agent has responsibility to deliver the policy to the insured and collect any premium that may be due at the time of the delivery

What is the biggest way to change an application?

Start over with a fresh application

Who must pay for the cost of a medical examination required in the process of underwriting?

The insurer

On a health insurance application signature is required from all of the following except

The spouse of the policy owner

An agent is ready to deliver a policy to an applicant but has not yet received payments. Upon delivery the agent collects the app premium check answers questions the applicant may have and then leaves. what did he forget to do?

Ask her to sign a statement of good health

In a replacement situation all of the following must be considered except

Assets

To comply with their credit reporting act when most of these are notify a credit report maybe requested?

At the time of the application - a notice to the applicant must be issued to all applicants for health insurance coverage

Before customer agent delivers his policy the insurer makes a last minute change to the policy. The agent informs the customer of this change and he accepts it. What must the Agent do now?

The agent should ask the customer to sign a statement acknowledging that he is aware of the change

Which of the following is a true regarding health insurance underwriting for a person with HIV?

The person may not be the client for medical coverage solely based on HIV status -HIV consent form provides insurance company with authorization to the test for the presence of the HIV and applies to all life and health policies underwriting for HIV/AIDS is permitted as long as it is not unfairly discriminated. Medical coverage however cannot be denied her recent health care reform no exclusions for pre-existing conditions