Which of these is NOT an underwriting responsibility of a life insurance agent?

The responsibility of determining the final rate classification primarily falls on the underwriter rather than the life insurance agent. Underwriters are specialized professionals who analyze the information provided by agents, conduct risk assessments, and ultimately decide on the classification of the risk and the premium rate. They have the training and authority to evaluate the underwriting criteria and leverage actuarial data, which is essential in determining the appropriate classification for the policy.

In contrast, gathering client information, conducting medical examinations, and submitting the application for approval are tasks commonly handled by life insurance agents as part of the application process. Agents collect vital information from clients to facilitate the underwriting process, assist in organizing any necessary medical evaluations, and ensure that the application is submitted accurately to the insurance company.