Life Insurance Basics
Which information belongs in a needs analysis for a New York client?
Answer and explanation
Answer: A. A needs analysis gathers the client's obligations and the resources already available, including existing coverage, savings, debts, and what dependants will require. Commission, insurer ratings, and past premiums do not measure the need.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, information gathered
More life insurance basics questions
- An underwriter wants records from the applicant's doctor. What must be in place first?
- At delivery the applicant discloses a hospital admission that occurred after the application was signed. What follows?
- During a sales presentation a producer urges a client to drop an existing policy for a new one using incomplete comparisons. What practice is that?
- During policy delivery, the owner notices a typo in the beneficiary's middle name. How should the producer assist?
- From what event does the free look period on a delivered life policy run?
- How does a business use the death benefit it receives from a key person policy?
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.