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What is purpose of traditional war clause in life insurance

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Assignment

1. There are several factors that impact the classification of risks for life insurance purposes. Using the Adult Build Table and at least 10 other rating factors examined in this chapter, describe the following hypothetical individuals. Be very specific in describing the hypothetical characteristics of these two applicants.

a. An ideal life insurance applicant
b. A life insurance applicant who would likely be denied coverage

2. Explain a specific hypothetical ((scenario)) in which each of the following rating criteria would be very important in determining whether an individual applicant should be accepted for a life insurance policy.

a. Morals
b. Socioeconomic hazards
c. Habits
d. Economic status
e. Avocation

3. What is the general purpose of traditional War Clause in life insurance?

4. Explain five key responsibilities of each of the following relationships:

a. Agent/Insured Relationship
b. Agent/Insurer Relationship
c. Insured/Insurer.

Attachment:- Adult-Build-Table.pdf

Reference no: EM131450079

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