Life Insurance Basics
What is an attending physician statement used for in underwriting?
Answer and explanation
Answer: B. Where the application discloses a condition, the underwriter asks the applicant's own physician for the medical records bearing on it, with the applicant's written authorization. The paramedical examination, identity checks and financial underwriting are separate steps.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, attending physician statement
More life insurance basics questions
- An applicant applies without paying any premium. The insurer issues the policy exactly as requested. When is the contract formed?
- An applicant believes the personal information an insurer holds is inaccurate. What recourse is provided?
- An applicant pays the premium with the application and receives a conditional receipt, then dies before the policy is issued. What governs the claim?
- An applicant presents better than average health and habits. Into which class is she ordinarily placed?
- An estate consists chiefly of illiquid farmland facing settlement costs. Why is life insurance suited to conserving it?
- An estate consists largely of a family business and will face costs at death. How does life insurance serve estate conservation?
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