Life insuranc texas - Study guides, Class notes & Summaries

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Insurance (General concept) - - transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - - must exist at the time of the application - insuring one's own life, family member, or a business partner Solicitation and sales presentation - - illustration- presentation of nonguaranteed elements - buyer's guide is generic information about life polices which must be ...

The accounting measurement of an insurer's future obligations to its policy holders - Answer- Reserves Who elects the governing body of a mutual insurance company? - Answer- Policyholders A group owned insurance company that is formed to assume and spread liability risks of its members is known as - Answer- Risk Retention Group Which of these describe a participating life insurance policy? - Answer- Policy holders are entitled to receive dividends Which of the following required ins...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application Who elects the governing body of a mutual insurance company? - ANSWER policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically s...

Texas Life and Health Insurance Practice Test with Complete Solutions Texas Life and Health Insurance Practice Test with Complete Solutions Texas Life and Health Insurance Practice Test with Complete Solutions Texas Life and Health Insurance Practice Test with Complete Solutions T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company ta...

Texas life and health insurance (types of insurance policies) questions with correct answers

ordinary life insurance - ANSWER-of commercial companies not issued on the weekly premium basis -made up of term and whole life group life insurance - ANSWER-life insurance that provides a master policy for a group; each eligible group member receives a certificate of insurance term life insurance - ANSWER-Insurance that provides financial protection from losses resulting from a death during a definite period, or term decreasing term - ANSWER--term life insurance in which the face amou...

Texas Life and Health Insurance Exam Questions With Correct Solutions

FINAL EXAM REVIEW - Texas life and health Insurance Exam Questions And Answers