QQuestionBusiness Law
QuestionBusiness Law
A guaranteed issue insurance policy has no
A) initial premium requirement
B) incontestable period
C) waiting period
D) medical underwriting
6 months agoReport content
Answer
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Step 1: Identify the correct answer choice for the guaranteed issue insurance policy.
A guaranteed issue insurance policy has no medical underwriting.
Step 2: Explain the concept of medical underwriting.
Medical underwriting is the process used by insurance companies to assess the risk associated with an applicant. The insurer reviews the applicant's medical history, lifestyle, and other factors to determine whether to approve the application and, if so, at what premium rate.
Final Answer
A guaranteed issue insurance policy has no medical underwriting.
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