LLQP Life Insurance · Component 3.3 · 25% of the exam
Before handing over an issued policy, the agent should compare it with the application to confirm:
- Athat the insurer's investment returns have met the illustrated projections
- Bthat the contestability period has already begun running from the date of the application
- the amount, product, riders, classification and beneficiary all match what was applied for
- Dthat the premium is lower than the amount originally quoted to the client
Correct answer: C) the amount, product, riders, classification and beneficiary all match what was applied for
Issued contracts sometimes differ from the application through a rating, a missing rider or a transcription error. Catching it before delivery is far easier than correcting it afterward.
Why the other options are wrong
- AInvestment performance is not verified at delivery.
- BContestability runs from issue, and confirming it is not the check.
- DThe premium follows the underwriting outcome, not the quotation.
Exam tip
Read the issued contract against the application before you deliver it.
Common mistake
Delivering a policy without checking it against what was applied for.
What this tests
CISRO competency component 3.3 — Implement a recommendation adapted to the client's needs and situation — which is weighted at 25% of the Life Insurance module. Written against the published curriculum.
More from component 3
- At policy delivery, the agent should obtain:
- The effective date of a life insurance policy is generally:
- A client's application is approved but he has not paid the first premium when the policy is delivered. The agent should:
- A pre-authorized debit form is part of implementation because:
- During implementation, the agent learns the client wants the policy owned by her corporation instead of personally, as first applied for. The correct step is:
- Which of the following is a legitimate reason an insurer might refuse to issue a policy even after favourable underwriting?
Practice the whole Life Insurance module
Timed sets weighted like the exam, and review of every question you miss. Free to start.