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Missouri Life and Health Insurance 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get It 100% Accurate!! Already graded A+ $22.99
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Missouri Life and Health Insurance 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get It 100% Accurate!! Already graded A+

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Missouri Life and Health Insurance 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get It 100% Accurate!! Already graded A+

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  • December 27, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Missouri Life and Health Insurance
  • Missouri Life and Health Insurance
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CodedNurse
12/27/24, 8:07 PM Missouri Life and Health Insurance 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Ge…




Missouri Life and Health Insurance 2025
Complete Questions And Verified Answers/
Complete Solutions With Rationales |Get It 100%
Accurate!! Already graded A+


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Terms in this set (336)


By mail or other means:
- Solicitation
Insurance transaction
- Negotiation
includes:
- Sale
- Advising an individual about coverage

-Agreement (offer and acceptance)
- Consideration
Elements of a legal
- Competent parties
contract
- Legal purpose
- Negotiation does NOT need to happen

Who make the offer in an - Applicant
insurance application


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, 12/27/24, 8:07 PM Missouri Life and Health Insurance 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Ge…

When does acceptance - An insurers underwriter approves the application
take place and issues a policy

The binding force in any - Consideration
contract - insurer promises to pay in the event of a loss

- Prepared by the insurer and accepted or rejected
Contract of adhesion by the insured
- "Take it or leave it" basis

- Aleatory
Insurance contracts are
- exchange of unequal amounts of values

- only one of the parties is legally bound
Unilateral contract
- "one-way contract"

"When does an insurance - When the insured receives it
policy go into effect"

- certain conditions must be met by the policy
Conditional contract
owner

- An absolutely true statement upon upon which the
Warranty
validity of the insurance policy depends

Representions - Statements believed to be true

- Untrue statements on the applications
Misrepresentation
- Can void the contract

Material - Would alter the underwriting decision of insurance
misrepresentation company

Part 1- General - Name, age, address, birth date, gender, income,
Information marital status, and occupation

- Medical background, present health
Part 2- Medical
- Medical visits in recent years
Information
- Medical status of relatives/ causes of deaths

- Solicited the potential insured
Field underwriter - Analyzes health
- Gets info on client




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