Rhode Island Life Insurance Exam 2025 – 400 Free Practice Questions to Pass the Exam

After delivering a life insurance policy and learning of a recent medical issue from the insured, the most appropriate action for the producer is to collect the initial premium along with a signed health statement. This step is crucial because it acknowledges the change in the insured's health status, which may affect their risk profile and the terms of the policy.

When a policy is underwritten, the insurer evaluates the risks associated with the applicant's health history. A recent medical issue could potentially alter the underwriting decision, affecting premium rates or coverage limits. By collecting a signed health statement, the producer ensures that the insurer has up-to-date information to make informed decisions about the policy. This approach shows due diligence and protects both the insurer and the insured.

Simply issuing the policy without concern does not address the potential implications of the new information, which could lead to complications in claims or the validity of the coverage. Canceling the policy is unnecessary and would not serve the interest of the insured. Referring the case to the underwriter might be appropriate under different circumstances, but in this instance, collecting the initial premium and updated health information provides the most direct and practical step toward ensuring the integrity of the policy.