Question

Under what conditions may a life insurance proposal for a minor be submitted?

a.

When the minor has a well-developed physique

b.

When the minor's family history is favorable

c.

When the minor has no need for insurance

d.

When submitted by a parent or legal guardian

Answer: (d).When submitted by a parent or legal guardian Explanation:Minors typically have no contracting power, so their life insurance proposals must be submitted by a parent or legal guardian.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Under what conditions may a life insurance proposal for a minor be submitted?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What factors are considered when assessing insurance for minors?

Q. When does the amount of insurance raise concerns for an underwriter?

Q. What percentage of an individual's annual income is generally considered acceptable for life insurance premiums?

Q. Why does the age of the proposed insured raise concerns for underwriters?

Q. What kind of special reports might life insurers request for high sums assured or advanced age proposals?

Q. In which situation might an underwriter inquire further about a proposal?

Q. Why might an underwriter inquire about a proposal made at a branch located far away from the proposed insured's residence?

Q. What is the primary source of occupational hazards that can affect insurability?

Q. Which of the following is an example of a health hazard related to an occupation?

Q. What may be required of an applicant for insurance if their occupation falls under a hazardous category?

Q. In the context of underwriting, what is a "flat extra" related to an applicant's occupation?

Q. What lifestyle and habit factors are considered important in underwriting?

Q. How do insurance companies differentiate between smokers and non-smokers in terms of premiums?

Q. Which of the following is considered a lifestyle risk related to alcohol?

Q. What does "substance abuse" refer to in the context of lifestyle and habit risks?

Q. Which of the following is an example of moral hazard?

Q. Which aspect of family history is considered in medical underwriting to assess mortality risk?

Q. What is one of the key factors evaluated in medical underwriting?

Q. Why do life insurers need to be cautious when dealing with individuals having adverse family history?

Q. What is the significance of personal history in medical underwriting?

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!