PACKAGE DEAL FOR TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM

1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? A- $50,000 Whole Life policy B- $50,000 Level Term policy ...

A newly license General Lines agent must complete a MINIMUM of___ hours of continuing education within ___ months after initial license. 24 · Insurance agent licenses normally must be renewed every __ years. · An agent must include a statement that _________ are not guaranteed during a sales pr...

Licensing Purpose - For the protection of the public of this state. Individuals must satisfy the following to be eligible to get a license: - -18 years of age or older -Resident of state -Passed exam and pay fees -Filed application and submitted a fingerprint card -Not license for the purpose...

After an investigation, an insurer denies a false claim. The insurer must: - Provide a reasonable explanation Gambling and investing in the stock market are known as what type of risk? - Speculative Risk Which would be considered an Unfair Claims Practice under Texas Law? - Failing to promptly...

All of the following are elements of an insurable risk EXCEPT: A.) The loss must be measurable. B.) The insured peril must be outside of the insured's control. C.) Any losses resulting from the insured peril must be definable as to time, cause, and location. D. ) Losses resulting from the ins...

Basic Terms and Concepts (BTC): Insurance - The transfer of risk through a legal contract - From insured (customer) - 1st party. -to insurer (insurance company) 2nd party Based upon principle of indemnity - to restore to pre-loss condition, no better, no worse (BTC) Property Insurance - Covers ...

1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - A- $50,000 Whole Life policy B- $50,000 Level Term policy f...

risk - chance of loss speculative risk - -involves the chance of gain or loss and is NOT insurable -ex: gambling pure risk - involves only the chance of loss and is insurable exposure - being subject to the possibility of loss because of an activity, location, or characteristics -second h...

Accelerated Benefits - Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accident - An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - A type of insurance that pro...