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15 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Financial Insurable Interests.1 |
Allows Business Partners to Buy Insurance on Each Other. |
Allowed to buy |
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NON-FINANCIAL INTEREST- A |
TERMS & CONDITIONS Allows Individuals Related Closely by, Blood or Law such as Spouses, Parents & Children or Grand Children to buy Insurance on each other. |
Terms |
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NON-FINANCIAL INTEREST - B |
You May buy Insurance on yourself and name any person as a Beneficiary. If you buy Insurance on another person. “This is called Third Party Insurance. |
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NON FINANCIAL INTEREST - C |
A Corporate Employer or an Employee-Benefit Trust—(Pension Plan) May buy buy Insurance on the lives of Employees with(Written Notice) to the Employee regarding the Purchase—The Amount—and to whine the Benefits are payable in the event of the Employees Death. |
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Property-Insurance |
Property-Against the loss of Physical Property. |
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Casualty |
Causes of Loss Insured Against in an Insurance Policy |
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Health - Insurance |
Health Insurance—is known as (Accident & Sickness—Ins Or Accident & Health Coverage |
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Loss |
The Decline of Value in a Person or Thing |
Loss |
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Risk |
The Uncertainty or Chance of a “Loss Occurring |
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Pure-Risk |
Possibility of “Loss” Situation that can only result in a Loss-Or no change at all. No opportunity for Financial Gain. The only Risks Ins-Co are willing to accept. |
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Speculative-Risk |
Opportunity for Loss or Gain. “Gambling” |
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Hazard |
Condition or Situation that Increases Probability of an Insured Loss Occurring. |
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Peril |
Causes of “Loss”Insured Against in an Insurance Policy. |
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Peril Life Insurance |
Causes of Loss Insured Against in an InsurancePolicy Life-Ins-Against the Financial Loss causes by the premature death of the Insured. |
Life |
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Health- Insurance
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Health-Against the Medical Expenses it Loss of (Income) caused by Sickness or Injury |
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