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6 Cards in this Set
- Front
- Back
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What does insurance solicitation mean?
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Solicitation of insurance means an attempt to persuade a person to buy an insurance policy, and it can be done orally or in writing.
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Who is responsible for all written and distributed insurance advertisements?
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The insurer whose policies are advertised is responsible for all its advertisements, regardless of who wrote, created, presented, or distributed them.
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How long is the incontestability period in life insurance policies issued in this state?
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2 years (except in the cases of fraud)
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What is a time period for taking legal actions against the insurer in this state?
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2 years after a loss
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Who is the owner and who is the beneficiary of a credit life policy?
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The creditor is the owner and the beneficiary of the policy.
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What are the minimum required nonforfeiture options in life insurance policies issued in this state?
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All insurers must offer at least one of the following nonforfeiture options: reduced paid-up, extended term, or shortened benefit period.
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