West Virginia State Life Insurance Practice Exam

What action should a producer take if five questions on a life insurance application remain unanswered?

1. Submit the application as is

2. Set up a meeting with the applicant to answer the remaining questions

3. Contact the underwriting team for guidance

4. Return the application to the insurance company

The correct answer is: Set up a meeting with the applicant to answer the remaining questions

Setting up a meeting with the applicant to answer the remaining questions is the most appropriate course of action in this situation. The integrity and completeness of an insurance application are crucial for the underwriting process. Each question on the application is designed to gather essential information about the applicant's health, lifestyle, and financial situation that the insurer needs to assess risk accurately and determine eligibility for coverage. By meeting with the applicant, the producer can ensure that all concerns are addressed and that the applicant fully understands the importance of each question. This proactive approach not only aids in the completion of the application but also helps build trust and rapport between the producer and the client, ultimately leading to a smoother underwriting process and better service for the applicant. Submitting the application with unanswered questions could lead to delays, additional requests for information, or even denial of coverage, as underwriters typically require complete information before making their decisions. Therefore, ensuring that the application is filled out completely is critical to ensuring that the application is processed in a timely manner and with all relevant details considered.