South Carolina Life Insurance Practice Exam

Whose responsibility is it to ensure all questions on an insurance application are answered?

1. Underwriter's

2. The agent's

3. The applicant's

4. Claims adjuster's

The correct answer is: The agent's

The responsibility for ensuring all questions on an insurance application are answered rests with the agent. The agent plays a crucial role in facilitating the application process between the applicant and the insurer. It is the agent's duty to guide the applicant through the application, ensuring that every question is thoroughly understood and accurately answered. The agent's role is significant because accurate and complete information is essential for the underwriting process. Any omissions or inaccuracies can lead to issues later, such as claims denials or the policy being voided due to misrepresentation. This highlights the importance of the agent's oversight in obtaining the necessary information from the applicant and submitting a complete application to the insurer. In contrast, while the applicant provides the answers, the agent's responsibility includes ensuring that those answers are provided and submitted correctly. This process is critical in establishing trust and transparency in the insurance transaction.