Alabama life stuvia - Study guides, Class notes & Summaries

The Fair Credit Reporting Act - ANSWERSwhat law protects consumers from the circulation of inaccurate or obsolete information? domestic, foreign, and alien - ANSWERSInsurers are classified according to their domicile. What are the 3 types of insurers? Fraternal insurer - ANSWERSwhat type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? mutual company - ANSWERSthe type of insurance company organized to return ...

John has recently died and it was discovered that he was actually ten years older than what was listed on his life insurance policy. What will the insurer pay his beneficiary? - ANSWERSThe amount of insurance that his premiums would have purchased at his correct age Which of the following is considered the "automatic" Nonforfeiture Option that most insurers will use? - ANSWERSExtended term Susan owns a life insurance policy that has accumulated $10,000 in cash value in which she can no l...

Term Insurance - ANSWERSTemporary protection because it only provides coverage for a specific period of time. Also known as pure life insurance Term insurance provides what is known as _________________ - ANSWERSpure death protection Term insurance provides the greatest amount of coverage for the _______________ - ANSWERSlowest premium Term insurance has no ____________ - ANSWERScash value Three basic types of term coverage available, based on how the face amount (death benefit) chan...

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The Fair Credit Reporting Act - ANSWERSwhat law protects consumers from the circulation of inaccurate or obsolete information? domestic, foreign, and alien - ANSWERSInsurers are classified according to their domicile. What are the 3 types of insurers? Fraternal insurer - ANSWERSwhat type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? mutual company - ANSWERSthe type of insurance company organized to return ...

The Fair Credit Reporting Act - ANSWERSwhat law protects consumers from the circulation of inaccurate or obsolete information? domestic, foreign, and alien - ANSWERSInsurers are classified according to their domicile. What are the 3 types of insurers? Fraternal insurer - ANSWERSwhat type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? mutual company - ANSWERSthe type of insurance company organized to return ...

The Fair Credit Reporting Act - ANSWERSwhat law protects consumers from the circulation of inaccurate or obsolete information? domestic, foreign, and alien - ANSWERSInsurers are classified according to their domicile. What are the 3 types of insurers? Fraternal insurer - ANSWERSwhat type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? mutual company - ANSWERSthe type of insurance company organized to return ...

Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - ANSWERSPrivilege of change clause The extended term nonforfeiture option provides: - ANSWERSPaid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - ANSWERSYou assign a partial amount of the policy values to the creditor An accounting measure used ...

Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - ANSWERSPrivilege of change clause The extended term nonforfeiture option provides: - ANSWERSPaid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - ANSWERSYou assign a partial amount of the policy values to the creditor An accounting measure used ...