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Reply to Studying for Exam, LTC Question.     
Old 09-08-2017, 12:26 AM   #1
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entrep1776 on Studying for Exam, LTC Question.
 
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Studying for Exam, LTC Question. Studying for Exam, LTC Question.
LTC policies in IL but think my question is more general.

From a course book:
---------
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.
---------
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.

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If you wouldn't say it to someone in real life, why would you type it to someone on the Internet?
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Old 09-08-2017, 06:31 AM   #2
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Studying for Exam, LTC Question. Re: Studying for Exam, LTC Question.
Originally Posted by entrep1776 View Post
LTC policies in IL but think my question is more general.

From a course book:
---------
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.
---------
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.
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.
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Old 09-08-2017, 12:09 PM   #3
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Join Date: Dec 2010
Posts:1,037
State: leevena is an Insurance Agent from Undisclosed Location
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Studying for Exam, LTC Question.
Originally Posted by entrep1776 View Post
LTC policies in IL but think my question is more general.

From a course book:
---------
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.
---------
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.
The carrier will provide an "issue" date for you. That will be your "event"
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Old 09-08-2017, 02:35 PM   #4
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VolAgent on Studying for Exam, LTC Question.
 
Join Date: May 2009
Posts:13,098
State: VolAgent is an Insurance Agent from Tennessee
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Studying for Exam, LTC Question. Re: Studying for Exam, LTC Question.


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.

------------------------------------
You can pay the premium or you can own the loss.
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Old 09-11-2017, 06:27 AM   #5
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Join Date: Feb 2011
Posts:27
State: kpbdy99 is an Insurance Agent from Maine
Studying for Exam, LTC Question. Re: Studying for Exam, LTC Question.
"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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