term1 Definition1term2 Definition2term3 Definition3
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T/F mutual insurer does not have stock or stock holders
True
Characteristics of a mutual insurer
-owned by customers
-funds that remain after paying claims/operating costs are distributed as dividens
-dividens are NOT taxable
-referred to as par policies
Fraternal Benefits Societies
Exists for the benefits of their members & offers insurance as one of their benefits
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