LAWS, AND RULES PERTINENT TO INSURANCE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++
1 view 0 purchase
Course
LAWS AND RULES PERTINENT TO INSURANCE
Institution
LAWS AND RULES PERTINENT TO INSURANCE
LAWS, AND RULES PERTINENT TO INSURANCE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++
Office of Insurance Regulation
regulates insurers to ensure they do business viable within a state.
Unauthorized Entities
- Those insurers who are nonadmitted, meaning they have not been approve...
regulates insurers to ensure they do business viable within a state.
Unauthorized Entities
- Those insurers who are nonadmitted, meaning they have not been approved or authorized to sell
insurance in the state.
The state's reasons for concerns:
Potential for criminal activity within the insurance business.
Adverse economic impact on authorized insurers.
Potential for unpaid claims due to dishonesty
Marketing Practices
- Agents are to supply a life insurance or health insurance buyers guide and a policy summary upon
request, or before the initial premium is accepted. They should be familiar with all state insurance
including
, Notice of replacement
Free look
Buyer's Guide
Notice of Replacement
When a life agent knows that the purchase of a policy will replace the existing policy or annuities will be
replaced.
Free look
Allows the insured a period of several days to look over the policy, and if dissatisfied for any reason,
return it for a full refund.
Buyer's Guide
Go about choosing the amount and type of insurance to buy, and how a buyer can save money by
comparing the cost of similar policies. The insurer must provide this buyer's guide before accepting the
initial premium or upon the clients request
Agent Ethics
Licensed agents may not submit applications to an insurance company without the following:
The insurance companies name on the first page
The agent's license number
Information must be legible and a copy of the application must be provided to the applicant
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseAdvocate. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
