Completing the Application, Underwriting, Delivering Policies, Contract Law
A producer notices that the applicant marked yes to a medication question but left the requested details blank. What is the best next step?
Answer and explanation
Answer: A. The proposed insured agrees that application answers are true and complete to the best of the person's knowledge and belief. A producer should obtain the missing details from the applicant rather than inventing or changing an answer.Source: Interstate Insurance Product Regulation Commission — Individual Life Insurance Application Standards — § 3.K. Agreements (1)(a); § 4.D. Medication (1)
More completing the application, underwriting, delivering policies, contract law questions
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