LLQP Life Insurance · Component 4.2 · 10% of the exam
A family believes a policy existed but cannot find the paperwork. The agent should:
- Atell them the benefit has probably been forfeited after so much time has passed
- Badvise the family to place an advertisement asking insurers to come forward
- check the agent's own records and use the industry policy search service
- Dtell the family no claim can proceed until the contract itself is produced
Correct answer: C) check the agent's own records and use the industry policy search service
The contract exists in the insurer's records whether or not the family holds the document. The agent's file often supplies the policy number, and a search service exists for policies nobody can trace.
Why the other options are wrong
- ABenefits are not forfeited because a claim was made late.
- BAn advertisement is unnecessary when a search service exists.
- DA missing document does not prevent a valid claim.
Exam tip
A lost policy document never prevents a claim.
Common mistake
Telling a family the original contract must be produced.
What this tests
CISRO competency component 4.2 — Provide customer service during the validity period of the coverage — which is weighted at 10% of the Life Insurance module. Written against the published curriculum.
More from component 4
- After a policy is reinstated, the contestability period:
- A revocable beneficiary designation is changed by:
- A client asks the agent to hold the beneficiary change form 'until next week' and dies in the meantime. The consequence is that:
- A client wants to reduce the face amount of her policy because her needs have fallen. The agent should note that:
- A client is unable to pay premiums temporarily on a whole life policy. Before letting it lapse, the agent should suggest:
- A client's term policy is being replaced with a new one from another insurer because it is cheaper and he remains healthy. To protect the client, the agent should ensure that:
Practice the whole Life Insurance module
Timed sets weighted like the exam, and review of every question you miss. Free to start.