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Which of these actions should a producer take when submitting an insurance application to an insurer?
One of the actions a producer should take when submitting an application is to advise the insurer of any other relevant information not contained in the application.
Which of the following correctly explains the actions an agent?
Which of the following correctly explains the actions an agent should take if a customer wants to apply for an insurance policy? Complete the application and review the information with the customer prior to obtaining the customer's signature, then send the application off to the insurance company.
What is the application in an insurance policy?
Application — a form providing the insurer with certain information necessary to underwrite a given risk. The applicant completes it to receive insurance.
Which factors are taken into consideration when an insurance company determines the premium rate for a whole life?
Along with your age, your health is the biggest factor that determines your premiums. Healthier people are at less risk of dying while the policy is active, so they're generally approved for lower life insurance rates.
Which elements are components of an insurance application?
- Age.
- Height.
- Weight.
- Health.
- Occupation.
Why is an applicant’s signature required?
Why Is an Applicant's Signature Required on a Life Insurance Application? This one actually has a really simple answer. The reason behind it is to attest that the statements on the application are accurate to the best of the applicant's knowledge.
What is the primary factor that determines the benefits?
What is the primary factor that determines the benefits paid under a disability income policy? Wages. (The major factor in determining the benefit amount paid under a disability income policy is wages.)
Which of the following describes the elimination period in a disability income insurance policy?
A disability elimination period — or waiting period — is best described as the span of time between when a disability occurs and when benefits start paying out. For example, a policy with a 60-day waiting period would not pay benefits for the first 60 days after the insured becomes disabled.
What does a guaranteed insurability rider provide quizlet?
A guaranteed insurability rider guarantees the insured the option of purchasing additional amounts of disability income coverage at predetermined times without requiring the insured to provide evidence of insurability.
What percentage of a Participants income are group?
Group long-term disability benefit amounts are usually limited to 60% of the participant's income. A guaranteed insurability rider guarantees the right to increase benefits without a medical exam.
Which of these actions should a producer take when submitting an insurance application to an insurer?
One of the actions a producer should take when submitting an application is to advise the insurer of any other relevant information not contained in the application.
Which factors are taken into consideration when an insurance company determines the premium rate for a whole life?
Along with your age, your health is the biggest factor that determines your premiums. Healthier people are at less risk of dying while the policy is active, so they're generally approved for lower life insurance rates.
Which of the following statements about a guaranteed renewable health insurance policy is correct quizlet?
The Payment of Claims provision in a Health Insurance policy states to whom claims will be paid. Which of the following statements about a Guaranteed Renewable Health Insurance policy is CORRECT? A Guaranteed Renewable Health Insurance policy can have increasing premiums at time of renewal.