Studying for Exam, LTC Question.

Discussion in 'Insurance Pre-Licensing Forum' started by entrep1776, Sep 8, 2017.

  1. entrep1776
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    entrep1776 Guru

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    LTC policies in IL but think my question is more general.

    From a course book:
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    An outline of coverage must be delivered to all applicants at the time of initial solicitation. The contract must be issued within 30 days of the approval of the application. There is a free look period of 30 days. Claim denial must be explained in writing.
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    Question on:
    The contract must be issued within 30 days of the approval of the application.

    "contract must be issued within 30 days"

    What's the EVENT that indicates WHEN the contract is considered "issued"?

    Appreciate the help.
     
  2. thomasm
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    Don't read too much into these exam questions. Just try to find the most appropriate answer, so you can pass the cert and get on with life.

    The coverage will be either issued or denied, once underwriting makes their decision. Sounds like they have a 30-day window to get everything wrapped up according to the question.
     
  3. leevena
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    leevena Guru

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    The carrier will provide an "issue" date for you. That will be your "event"
     
  4. VolAgent
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    [​IMG]

    Learn what you need to learn to pass the test. The company will take care of approving and issuing policies in a timely manner, and if they screw up it is on them.
     
  5. kpbdy99
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    "Approval" would be the day the underwriter says "yes" to the risk, so it would need to be issued within 30 days of that date.
     
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