Life Insurance Basics
An applicant believes the personal information an insurer holds is inaccurate. What recourse is provided?
Answer and explanation
Answer: C. Access and correction rights let the individual see the recorded personal information and either have it amended or have a statement of dispute filed with it. Destruction of the file, issue of the policy and damages are not the remedies these rules supply.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, access and correction
More life insurance basics questions
- Which deductions are made from gross earnings when computing a human life value?
- Which factor may an insurer properly use in classifying a life insurance risk?
- Which information belongs in a needs analysis for a New York client?
- Which information is gathered when a producer applies the needs approach?
- Which items are counted among the lump-sum needs a death benefit must cover?
- Which measure of survivor protection asks what income the family loses at the insured's death?
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