Question

What does the regulator ask the insurer to commit to when filing an insurance product?

a.

That the product will have the lowest premium in the market

b.

Fair policy wordings and scientific pricing

c.

That the insurer will not accept any risks

d.

A commitment to offer the product to prospective customers

Posted under IC38 Life Insurance Agent Exam

Answer: (b).Fair policy wordings and scientific pricing Explanation:The regulator asks the insurer to commit to fair policy wordings and scientific pricing.

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Q. What does the regulator ask the insurer to commit to when filing an insurance product?
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