If an applicant submits a life insurance application that involves an investigative consumer report, what right does the applicant have?

An applicant has the right to receive a copy of the investigative consumer report when they submit a life insurance application that involves such a report. This right is part of the Fair Credit Reporting Act (FCRA), which mandates that consumers must be informed when a report has been obtained and allows them to access a copy of this report upon request.

Receiving a copy of the report empowers applicants by providing transparency into the information being collected about them and how it may influence the underwriting decision. This is crucial for maintaining consumer rights and ensuring that applicants can verify the accuracy of the information reported.

Other choices do not align with what is stipulated in consumer protection laws. For instance, refusing the report isn't an option because the underwriting process often necessitates this information. Similarly, the application process cannot be reviewed in the context of investigating consumer reports. Lastly, altering the report's contents is not allowed, as the report must accurately reflect the information gathered from reliable sources.