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3 Cards in this Set
- Front
- Back
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 |
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Fraternal Benefits Societies |
Exists for the benefits of their members & offers insurance as one of their benefits |