During a meeting, an entrepreneur fills out the paperwork for a new individual disability income policy but chooses to wait until the policy is issued to pay the first premium. Three weeks later, the producer arrives at the entrepreneur's office to deliver the issued policy and collect the payment. Before leaving the policy and officially starting the coverage, which of the following must the producer obtain from the entrepreneur?
- A signed Statement of Good Health confirming no adverse medical changes have occurredCevap
- BOnly the initial premium check, because the insurer has already completed the medical underwriting
- CA conditional receipt that backdates the coverage to the day the application was initially signed
- DA newly signed warranty guaranteeing the applicant's health history is absolutely true
Cevap
The producer must obtain a signed Statement of Good Health confirming no adverse medical changes have occurred.
When an applicant defers the initial premium payment until policy delivery, the insurance contract cannot take effect immediately. To finalize the contract and activate coverage, the producer must collect both the premium and a signed document confirming the applicant's health has not declined since the original paperwork was submitted.
Adım Adım Çözüm
Anahtar Kavram
Effective Date and Statement of Good Health Requirements