Life Insurance Basics
What is the Medical Information Bureau?
Answer and explanation
Answer: D. The bureau is a nonprofit association of member insurers that stores brief coded records of conditions significant to underwriting, so that information given to one member is available to others. It is neither a government body nor a decision maker.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, Medical Information Bureau
More life insurance basics questions
- Who bears the investment risk in a variable life policy?
- Who owns, pays for, and benefits from key person life insurance?
- Whose interests may a producer weigh when making a recommendation under Regulation 187?
- Why can the human life value approach and the needs approach produce different amounts for the same client?
- Why does paying premium monthly usually cost more in total than paying annually?
- Why does paying premiums monthly cost more over a year than paying annually?
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