Life & Health Insurance Exam (National Portion)Underwriting and Policy IssueMedium
A life insurance underwriter is reviewing an applicant's medical information. Which of the following sources of information is generally considered the most important and reliable for assessing an applicant's current health status?
- AAttending Physician's Statement (APS)
- BAgent's Report
- CMedical Information Bureau (MIB) report
- DConsumer credit report
Show answer & explanationAnswer & explanation
Correct answer: A. Attending Physician's Statement (APS)
The Attending Physician's Statement (APS) provides detailed medical history, diagnoses, treatments, and prognoses directly from the applicant's physician, making it the most comprehensive and reliable source for current health status.
Why the other options are wrong
- B. The Agent's Report provides personal observations but is not a primary medical source.
- C. The MIB report is a fraud prevention tool, providing coded information about past medical conditions, not detailed current status.
- D. A consumer credit report provides financial information, not medical information.
Attending Physician's Statement (APS)
A report from an applicant's physician detailing their medical history, diagnoses, treatments, and current health status, used by underwriters to assess insurability.
- Detailed medical history from physician
- Crucial for assessing health risk
- Requires applicant's authorization to obtain
Memory trick: Underwriters 'A'sk 'M'any 'A'nd 'C'areful 'D'ocuments.