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18 Cards in this Set
- Front
- Back
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Insurable interest |
Financial interest in the life of another person or in a piece of property |
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Solicitation of insurance |
Attempt to persuade a person to buy a policy |
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Underwriting |
Risk selection and classification |
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Solicitation and sales presentation types |
Advertisements, Illustrations, buyers guide, and policy summary |
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Sale presentation advertising |
Must be truthful and not misleading |
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Sales presentations- illustration |
Presentation of nongaranteed elements |
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Sales presentations buyers guide |
Generic information about insurance policy |
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Underwriting- field and company application part 1 |
General information |
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Underwriting- field and company application part 2 |
Medical information and agents reports |
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Company underwriting sources of info |
Application, consumer reports and MIB |
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Risk Classifications |
Preferred, standard and substandard |
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3 factors in determining premium |
Mortality, interest and expense |
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Premium payment modes |
Annual, semi annual, quarterly, and monthly |
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Policy issue and delivery- conditional reciept |
Premium paid with the app, coverage effective as the date of the app or medical exams, whichever is later |
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Policy issue and delivery - statement of good health |
Is needed if premium is paid at policy delivery |
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Companys field underwriter is the |
Agent |
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Who must sign an insurance application? |
Both agent and applicant |
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Changes on the app must be acknowledged by who? |
The applicant |
