Rhode Island Life Insurance Practice Exam

P is a producer who notices 5 questions on a life application were not answered. What actions should P take?

1. Submit the application as is

2. Set up a meeting with the applicant to answer the remaining questions

3. Contact the insurer to explain the missing information

4. Send a follow-up email to the applicant

The correct answer is: Set up a meeting with the applicant to answer the remaining questions

When a life insurance application is incomplete, it is crucial to address any missing information to ensure the application is valid and the underwriter can make an informed decision. Setting up a meeting with the applicant to answer the remaining questions allows the producer to engage directly with the applicant, clarifying any uncertainties and ensuring that all information is accurately captured. This approach not only helps in completing the application properly but also builds a rapport with the applicant, demonstrating thoroughness and attention to detail. By confirming the applicant's responses personally, the producer minimizes the likelihood of errors that could lead to processing delays or issues later on. Gathering complete and accurate information is essential for the underwriting process, which assesses the risk for coverage and sets the premium appropriately. Other options, such as submitting the application as it stands or sending a follow-up email, would not adequately address the missing questions and could hinder the process or lead to complications down the line. Contacting the insurer alone to explain the missing information would not resolve the issue of the incomplete application and would not be as effective as directly engaging with the applicant to gather the necessary details.