Life Insurance Basics
What makes a distinction between applicants unfair discrimination rather than lawful underwriting?
Answer and explanation
Answer: D. Unfair discrimination is charging different rates or offering different terms to individuals of the same class and equal expectation of life, or refusing on a basis unrelated to the risk. A higher premium justified by a genuine difference in risk is ordinary underwriting.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, unfair discrimination
More life insurance basics questions
- What is the producer's core obligation in a sales presentation?
- What is the producer's responsibility for the answers recorded on a life insurance application?
- What is the standing of the agent's report accompanying a life insurance application?
- What key feature distinguishes a variable annuity from a fixed annuity?
- What licensing does the sale of a variable life insurance policy require?
- What must a life insurance illustration be labelled under New York's illustration rules?
621 New York questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.