What describes a personal statement submitted by the producer to the insurer?

A personal statement submitted by the producer to the insurer is called an Agent’s Report. This report provides detailed information about the applicant, assisting the insurer’s underwriters in the evaluation process. The report typically includes insights and observations made by the producer during the application process, such as the applicant's health status, lifestyle choices, and other relevant details that may influence the underwriting decision.

The inclusion of this personal perspective helps insurers assess the risk associated with providing coverage, as producers often have firsthand knowledge about the clients they serve. Thus, accurately conveying this information through the Agent’s Report is essential for the insurer to make informed decisions regarding policy issuance and premium determination.