Life Insurance Basics
What do the two principal parts of a life insurance application contain?
Answer and explanation
Answer: D. Part one gathers general and personal information such as identity, occupation, amount applied for and beneficiary, and part two records the medical history and any examination findings. The agent's report is a separate document not shown to the applicant.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, parts of the application
More life insurance basics questions
- When is a statement of good health obtained on delivery of a life insurance policy?
- When may an insurer disclose an applicant's personal information without a specific authorization?
- Where are the assets supporting a variable life policy held, and who bears the investment risk?
- Which characteristic of the granting organisation makes a senior designation a prohibited one under Regulation 199?
- 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?
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