Term
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Definition
| Transferring individual risk to a company for consideration is called ______________ |
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Definition
| As an agent, you are the legal representative of the ____________. |
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Term
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Definition
| The person who pays for the policy of insurance is the _______________. |
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Term
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Definition
| The _____________________ is the person who receives the benefits from the insurance policy. |
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Term
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Definition
| The person covered by the insurance policy is the ~ |
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Term
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Definition
| To buy insurance, the policyowner must have __________________ in the insured at the time of purchase. |
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Term
| Own Life; Family Members; Business Partners; Key Employees; Financial Interest |
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Definition
| The recognized areas of insurable interest are 1. ____________, 2. ___________, 3.______________, 4.___________, and 5. _____________. |
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Term
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Definition
| The two basic kinds of insurance companies are ___________________and ____________________ |
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Term
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Definition
| A stock company's dividends are _____________ but a mutual company's dividends are ______________. |
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Term
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Definition
| An _____________ insurance company is admitted to do business in a state. |
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Term
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Definition
| The three types of incorporation are: ___________, ____________ and _____________. |
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Term
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Definition
| A ___________________ is the literal or absolute truth. |
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Term
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Definition
| ____________________ are statements made by an applicant that are true to the best of his/her knowledge. |
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Term
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Definition
| Lying on an application for insurance is called _______________________ |
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