ALU 202 - Ch 7 Multilife
Underwriting Comprehensive
Study Guide + Exam Questions &
Solutions Graded A+
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Introduction - What is Multilife Underwriting?
Multilife underwriting is the underwriting of groups of life
insurance applicants primarily using nontraditional approaches
to risk selection using the following:
1) _____________ issue (GI), which doesn't include any
traditional individual underwriting
2) _____________ issue (SI), which includes fewer UWing reqs
than full UWing
Multilife UWing uses products such as UL, variable life, private
placement products, COLI, BOLI - Answer: 1) guaranteed
2) simplified
Introduction - COLI, BOLI and other OLIs
1) In its early decades, what is commonly known as the
__________ marketplace was characterized primarily by plans
intended to provide benefits to meet the needs of executives.
,2) Various pieces of legislation created opportunities for life
insurance to be used in _____-_____________ ways to meet
these needs. - Answer: 1) COLI
2) tax-advantaged
Introduction - COLI, BOLI and other OLIs
__________ has proven to be a cost-efficient and effective
means for banks to offset rising employee benefit costs. -
Answer: BOLI
Introduction - COLI, BOLI and other OLIs
BOLI - examples of a bank's employee obligations that can be
informally funded with life insurance include executive
retirement plans, deferred compensation plans, and even
retiree medical obligations.
What is another benefit of BOLI (though not its main purpose)?
- Answer: It may help the bank retain its top employees
, Introduction - COLI, BOLI and other OLIs
More recently, _________________ (CHOLI), also known as
foundation-owned life insurance (FOLI), has appeared in the
marketplace and refers to plans designed to insure multiple or
large numbers of lives on behalf of a charity or foundation. -
Answer: charity-owned life insurance
Introduction - COLI, BOLI and other OLIs
True or False:
There are several significant differences between CHOLI and
both COLI and BOLI, which greatly compromise the
underwriter's ability to provide either GI or SI for that purpose.
- Answer: True
Principles of Multilife Underwriting
The primary focus of all multilife underwriting is the avoidance
of _________-______________. - Answer: anti-selection
Underwriting Comprehensive
Study Guide + Exam Questions &
Solutions Graded A+
Professional Academic Assistance Services
Services Offered
• Proctored Exam Assistance
• Online Class Management (Full Course Support)
• Exam Preparation & Study Materials
• Assignments and Coursework Support
• Essay and Research Paper Writing
• Discussion Posts & Responses
• Editing and Proofreading
• Confidential Academic Consultation
Contact Information
Email:
WhatsApp link: https://wa.me/254704846336
Fast Response | Confidential | Reliable Academic
, Support
Helping Students Achieve Academic Excellence
Introduction - What is Multilife Underwriting?
Multilife underwriting is the underwriting of groups of life
insurance applicants primarily using nontraditional approaches
to risk selection using the following:
1) _____________ issue (GI), which doesn't include any
traditional individual underwriting
2) _____________ issue (SI), which includes fewer UWing reqs
than full UWing
Multilife UWing uses products such as UL, variable life, private
placement products, COLI, BOLI - Answer: 1) guaranteed
2) simplified
Introduction - COLI, BOLI and other OLIs
1) In its early decades, what is commonly known as the
__________ marketplace was characterized primarily by plans
intended to provide benefits to meet the needs of executives.
,2) Various pieces of legislation created opportunities for life
insurance to be used in _____-_____________ ways to meet
these needs. - Answer: 1) COLI
2) tax-advantaged
Introduction - COLI, BOLI and other OLIs
__________ has proven to be a cost-efficient and effective
means for banks to offset rising employee benefit costs. -
Answer: BOLI
Introduction - COLI, BOLI and other OLIs
BOLI - examples of a bank's employee obligations that can be
informally funded with life insurance include executive
retirement plans, deferred compensation plans, and even
retiree medical obligations.
What is another benefit of BOLI (though not its main purpose)?
- Answer: It may help the bank retain its top employees
, Introduction - COLI, BOLI and other OLIs
More recently, _________________ (CHOLI), also known as
foundation-owned life insurance (FOLI), has appeared in the
marketplace and refers to plans designed to insure multiple or
large numbers of lives on behalf of a charity or foundation. -
Answer: charity-owned life insurance
Introduction - COLI, BOLI and other OLIs
True or False:
There are several significant differences between CHOLI and
both COLI and BOLI, which greatly compromise the
underwriter's ability to provide either GI or SI for that purpose.
- Answer: True
Principles of Multilife Underwriting
The primary focus of all multilife underwriting is the avoidance
of _________-______________. - Answer: anti-selection
