Life Insurance Basics
From what event does the free look period on a delivered life policy run?
Answer and explanation
Answer: D. The free look, or right to examine, runs from delivery of the policy to the owner, which is why the delivery date matters and is often receipted. Application, approval and premium payment are earlier events in the process.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, free look on delivery
More life insurance basics questions
- What is a participating life insurance policy?
- What is an attending physician statement used for in underwriting?
- What is life insurance used for in estate conservation?
- What is required when an insurer issues a policy on terms different from those applied for?
- What is the blackout period in survivor income planning?
- What is the chief drawback for an employee of relying on group life insurance alone?
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