which of the following best describes a conditional insurance contract

What was his total bill? His insurance agent told him the policy would be paid up if he reached age 100. consideration Science Study Guide Questions. Waiver of premium Juvenile waiver Guaranteed insurability Payor benefit, Which of the following is a reinstatement condition? A) implied authority A) Express Elizabeth is the beneficiary of a life insurance policy. D) Conditional, Which of the following is NOT a requirement of a contract? Aleatory Contract: A contract type in which the parties involved do not have to perform a particular action until a specific event occurs. D) Consideration clause, When the principal gives the agent authority in writing, it's referred to as Write a summary of the main ideas. C) aleatory All of the following are examples of pure risk EXCEPT. there must be an offer and acceptance Adjustable universal life policy Flexible universal life policy Variable universal life policy Modified universal life policy, Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed in Ken? B) guarantee If thats the case, you dont have to worry anymore. The terms of the policy typically outline these conditions, which may include paying premiums on time and maintaining the insured property in good condition. __________. legal reserve, What are an applicant's statements concerning occupation, hobbies, and personal health history regarded as? B) NAIC Term insurance is appropriate for someone who, Seeks temporary protection and lower premiums. Which of the following best describes how you analyze a fiction text? If the consumer price index had gone up 4%, how much may Ron increase the face value of the policy? The insurers obligation to pay a death benefit upon an approved death claim. An insurer exaggerating its dividends in a magazine advertisement. Eventually, they retire and dissolve the business. What would happen if a life insurance applicant is given a conditional receipt? only one party makes any kind of enforceable promise, the terms must be accepted or rejected in full, Which type of clause describes the following statement: "We have issued the policy in consideration of the representations in your applications and payment of the first-term premium". Her son, Mike, is the beneficiary. Before using an assumed name in Utah, a producer MUST, Maria would like an annuity that provides a guaranteed accumulation or payout. If threats or force is used to affect an insurance transaction, the unfair trade practice of __________ has been committed. Policyowner may increase or decrease the premium payments Policyowner may increase or decrease the face amount Policyowner can contribute large sums of money Policyowner has the right to select the investment which will provide the greatest return, All of the following riders can increase the death benefit amount EXCEPT Cost of Living Waiver of Premium Accidental Death Rider Guaranteed Insurability, Which of these is NOT considered to be a common life insurance nonforfeiture option? B) the insurer's obligations are dependent upon certain acts of the insured individual D) underwriter, Reasonably necessary acts that an agent must perform for carrying out his/her expressly authorized duties are covered by an agent's B) premium only What is created after policy proceeds are obtained in a lump sum and then immediately invested? D) only when determined by a judge, Xcel Chapter 3 Legal Concepts of the Insuranc, Chapter 3 Exam - Legal Concepts of the Insura, Chapter 4 Exam - Life Insurance - Types of Po, 4 - (Questions) Life Insurance Policies - Pro, Chapter 5: Life Insurance Premiums, Proceeds,, Chapter 4: Type of Insurance Policies Part 1, Chapter 4: Policy Provisions, Options and Rid, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, The Cultural Landscape: An Introduction to Human Geography, AP Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Unit 7 AP Env. It is not necessary for the parties to exchange unequal consideration in a conditional insurance contract. Under the McCarran-Ferguson Act, what is the minimum penalty for this? C) Aleatory A (D) Only one party is legally bound to the contract. y=f(x)=10x5x+1535if0x3if3

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