Life, health insurance
The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become affective?
As of the application date
If a change needs to be made to the application for insurance, the agent may do all of the following EXCEPT
Erase the incorrect answer and record the correct answer.
Which of the following best describes the aleatory nature of an insurance contract
Exchange of unequal values
Who makes up the Medical Information Bureau A. insurers B. hospitals C. former insured D. physicians and paramedics
Insurers
A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will
Pay the policy proceeds only if it would have issued the policy.
Which if the following will be included in a policy summary
Premium amounts and surrender values
In the underwriting process, it was determined that the applicant for life insurance is in poor health and has some dangerous habits. Which of the following is true concerning the policy premium?
a. it will likely be higher because the applicant is a substandard risk
