Life Insurance Policies
What does a group underwriter reassess when a plan comes up for renewal?
Answer and explanation
Answer: A. Renewal underwriting looks at how the group has performed and whether its makeup has shifted, since both bear on the rate for the coming year. Individual suitability and licensing questions belong elsewhere.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, group underwriting at renewal
More life insurance policies questions
- An owner aged fifty takes a loan against a single premium whole life policy. What is the tax result?
- An owner converts a term policy and may choose attained age or original age. What is the trade?
- An owner of continuous premium whole life wants to pay less in a difficult year. What does the contract permit?
- An owner wishes to move the value of an old policy into a single premium whole life contract. What preserves the deferral?
- At what premium is the individual policy issued on conversion from group cover?
- Does a level premium term policy accumulate cash value the owner may reach?
621 New York questions like this one.
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