Completing the Application, Underwriting, Delivering Policies, Contract Law
An applicant with average health, normal build, and no hazardous hobbies is classified into which standard underwriting category?
Answer and explanation
Answer: B. Standard risks represent individuals who fit the average mortality profile and pay standard published premium rates.Source: NAIC Risk Classification Guide — Risk Classes
More completing the application, underwriting, delivering policies, contract law questions
- When a policyowner stops paying premiums, allowing a term life policy to lapse, the insurer cannot take legal action to force the owner to continue making payments. Which characteristic of insurance contracts does this limitation reflect?
- When an applicant submits a completed application WITH initial premium, what legal act does the applicant perform in contract law?
- When must an insurable interest exist in life insurance contracts under Texas law?
- Which applicant statement is best characterized as a representation?
- Which arrangement most closely describes stranger-originated life insurance?
- Which individual would be deemed legally INCOMPETENT to enter into a binding life insurance contract?
590 Texas questions like this one.
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