Life Insurance Basics
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
Who makes up the medical information bureau
Insurers
All of the following information about the applicant is identified in the general information section of a life insurance application, except
education
When Jay applied for a life insurance policy, the agent informed him that a medical exam would be required. The exam may be completed by.
A paramedic or examining physician at the insurance expense
The medical information bureau was created to protect
Insurance companies from adverse selection by high risk persons.
Which of the following types of risk will result in the highest premium
Substandard risk
When an insurer begins underwriting procedures for an applicant, what will be the main source for its underwriting information?
application
Which of the following is the basic source of information used by the company in the risk selection process?
application
Another name for a substandard risk classification is
rated
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 death of the applicants deceased relatives
Medical information
Attempting to determine how much insurance a family would require based upon their financial objective is known as
Needs approach
Part two of the application for life insurance provides questions regarding all the following, except
Other insurance coverages
Which of the following best details the underwriting process for life insurance
Selection, classification, and rating of risks
