SOLVED749

23 Dan Hoover was 30 years of age when his insurance advisor carried out a needs analysis on Dan and determined that, based upon his current circumstances; he needed a permanent insurance policy of $200,000 face amount and a term-to-65 coverage of $500,000. The agent also determined that Dan had a family history of diabetes and hypertension. The advisor suggested to Dan that he add a guaranteed-insurability-benefit (GIB) rider to his permanent Insurance for a sum of $200,000, so that he is guaranteed an increase in benefit, if he requires it in the future. Dan followed the advisor’s suggestion. Today Dan is 50 years of age. He was diagnosed with diabetes and hypertension at age 35. He had a heart attack last year and requires $200,000 of additional permanent life insurance. He exercises his GIB option. Which of the following is the most likely action by the insurer? A Decline the policy, due to his recent heart attack B Issue a rated policy, due to the history of diabetes and hypertension, because the issue is guaranteed by GIB C Issue a policy that excludes death due to diabetes, hypertension, and heart attack D Issue a standard policy for the increase,
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