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15 Cards in this Set
- Front
- Back
- 3rd side (hint)
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The premium of a survivalship life policy compared with that of a joint life policy would be?? |
B - lower |
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Which of the following persons represent several insurance companies but owns the records of the policies sold.. |
Independent agent |
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An agent is a legal person who acts on the behalf of ? |
The principal |
insurer |
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Factual statements about the insured or the risk in an insurance policy are considered?? |
express warranty |
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The causes of loss insured against in an insurance policy are known as ? |
D- Perils |
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In financial planning, the human life concept on an individual is based on ? |
D- income |
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A type of insurance where one insurer transfers some or all loss exposures from policies written for its insureds to another is known as ? |
B- Reinsurance |
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An employee received a bonus check, she uses the money to buy an annuity that will begin paying her $400 a month. This is called ? |
C- single premium immediate annuity |
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Annuity ? |
To create an estate |
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An employee will be taxed on the cost of the group life insurance paid by the employer if the amount of coverage exceeds... |
D- 50,000 |
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When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable the contract is ? |
C-- Conditional |
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Peril is most easily defined as ? |
D-- the cause of loss insured against |
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403 (B) |
Teachers, non profit |
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Unilateral |
One sided |
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Expunged |
Relieve (something) |
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