LESSON 5: LIFE INSURANCE UNDERWRITING AND POLICY ISSUANCE
The following subjects are contained within Lesson 5:
The Purpose of Underwriting
The Underwriting Process - Underwriting Classifications (Preferred, Standard, and Substandard Risks); The Application (Part I - General Report, Part II - Medical Report, Attending Physician's Statement, Part III - Agent's Report, Special Questionnaires); Medical Information Bureau (MIB); Fair Credit Reporting Act of 1970
Field Underwriting Procedures - Proper Solicitation; Backdating; Term Insurance for Interim Coverage; The Conditional Receipt (Insurability Conditional Receipt, Approval Receipt); The Binding Receipt; Policy Effective Date
Policy Issue and Delivery - Constructive Delivery
Lesson Review - Key Concepts; Quiz
The information contained in Lesson 5 can be found in
Unit 9 of the Florida study manual.
