Question

What is a potential challenge in getting appropriate and accurate documentation on financial or medical facts of the life to be assured?

a.

Legal disputes in the event of an early claim

b.

Difficulty in assessing the risk

c.

Delays in the underwriting process

d.

Lack of qualified staff to conduct the assessments

Posted under IC22 Life Insurance Underwriting

Answer: (a).Legal disputes in the event of an early claim Explanation:Difficulties exist in getting appropriate and accurate documentation on financial or medical facts of the life to be assured, thereby making a fair risk assessment a difficult one. In the absence of a well-documented case file, and the evidence of the case in chronological sequence (including the clients' conversation), there can arise legal disputes, especially in the event of an early claim.

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Q. What is a potential challenge in getting appropriate and accurate documentation on financial or medical facts of the life to be assured?
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