Question

Why is age proof required in the underwriting process for health insurance?

a.

To verify the occupation of the insured

b.

To determine the financial status of the proposer

c.

To establish the moral hazard of the proposer

d.

To confirm the age of the insured

Answer: (d).To confirm the age of the insured Explanation:Age proof is required in the underwriting process to confirm the age of the insured, as premiums are determined based on the age of the insured.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Why is age proof required in the underwriting process for health insurance?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. Which of the following is considered a standard age proof for health insurance?

Q. In which situations are financial documents typically asked for in health insurance underwriting?

Q. What leads to the requirement of medical reports in health insurance underwriting?

Q. How can sales personnel be viewed in the underwriting process for health insurance?

Q. What is medical underwriting in health insurance?

Q. What conditions should be carefully considered in medical underwriting due to their high probability of future hospitalization?

Q. What may be required for persons above the age of 45-50 years enrolling for health insurance for the first time?

Q. What is the primary basis for determining premium rates and sum assured in non-medical underwriting?

Q. How does non-medical underwriting differ from medical underwriting in terms of speed and premiums?

Q. What is the Numerical rating method in underwriting?

Q. What is the final step in the underwriting process?

Q. What is the purpose of a "Counter offer" in underwriting?

Q. What are standard exclusions in insurance policies?

Q. How does zone-wise premium affect insurance policies?

Q. What is one of the important factors considered when underwriting group health insurance?

Q. In group health insurance, what does the term "group size" refer to?

Q. What is one of the factors considered when underwriting non-employer employee groups for health insurance?

Q. What is one purpose of group health insurance underwriting?

Q. What is one important factor that affects the premium rate for overseas travel insurance?

Q. Among foreign countries, which countries typically have the highest premium rates for overseas travel insurance?

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!