Llqp module 2 vocab Study guides, Class notes & Summaries

LLQP Module 2 - Vocab.

Absolute assignment Answer The transfer of all the rights of the original policy owner to another party, including the right to appoint a beneficiary basic promise Answer The promise in the policy that identified the life insured, the amount of the insurance payable, when and where that amount is payable, and to whom it is payable binding agreement Answer A legal contract between parties(participating people in the contract) that is enforceable by law case law Answer Common Law colla...