Life Insurance Underwriting and Policy Issue

Which of these factors do NOT play a role in the underwriting of a life insurance policy?

Marital Status

Any changes made on an insurance application requires the initials of whom?

Applicant

Which of these do NOT constitute policy delivery?

Policy issued with a rating

All of these are considered sources of underwriting information about an applicant EXCEPT

Rating Services

Which factors are taken into consideration when an insurance company determines the premium rate for a Whole Life policy on an applicant?

Risk classification

A life insurance application must be signed by all of these EXCEPT

Beneficiary

K applies for a life insurance policy on herself and submits the initial premium with the application. She given a receipt by the producer stating that coverage begins immediately if the application is approved. What kind of receipt was used?

Conditional

What is the purpose of the U.S.A. Patriot Act?

Detect and deter terrorism

What action should a producer take if the initial premium is NOT submitted with that application?

Forward the application to the insurer without the initial premium

On January 8, an applicant filled out and application for a life insurance policy but did not include the initial premium. The insurance company approved the application on January 14 and issued the policy January 15. The producer delivered the policy on January 26 and collected the first premium. When did the coverage become effective?

January 26