LLQP Life Insurance · Component 3.3 · 25% of the exam
The 'good health' statement at delivery asks the applicant to confirm:
- AThe beneficiary's current address, so the insurer can contact the beneficiary directly if a claim arises under the policy later
- That there has been no change in health, and no new consultation or treatment, since the application
- CThat the agent who delivered the policy is licensed in the province where the client lives
- DThe premium amount and payment frequency, so the client cannot later dispute the cost of the coverage
Correct answer: B) That there has been no change in health, and no new consultation or treatment, since the application
The insurer underwrote the risk as of the application. The delivery statement extends the disclosure to the delivery date; a material change must be reported and may lead the insurer to re-underwrite.
Why the other options are wrong
- ABeneficiary details are elsewhere.
- CLicensing is not the subject.
- DPremium is stated in the policy.
Exam tip
Delivery statement = disclosure extended to delivery. A 'yes' to any change means stop and report.
Common mistake
Having the client sign the statement without asking the question.
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.