Primerica Pre-licensing Course 290 Questions with 100% Correct Answers | Updated & Verified

agent - ️️legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer insured - ️️the person covered by the insurance policy; this person may or may not be the policyowner broker - ️️an insurance agent not appointed by an insurer and is deemed to represent the client insurance policy - ️️a contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events insurer - ️️the company who issues an insurance policy policyowner - ️️the person entitled to exercise the rights and privileges in the policy premium - ️️the money paid to the insurance company for the insurance policy reciprocity - ️️a mutual interchange of rights and priveleges risk - ️️the uncertainty or chance of a loss occurring pure risk - ️️situations that can only result in a loss or no change; no opportunity for financial gain speculative risk - ️️involves the opportunity for either loss or gain; not insurable