The insured may only r - Study guides, Class notes & Summaries

The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as A recipient location recipient location Businesses who support insured by being the primary buyer for their products HO-3 (special form) covers the dwelling and other structures on a risk -of-direct-physical loss basis. All direct ph...

FINAL EXAM REVIEW - Texas life and health Questions and Answers 100% Pass If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - Correct Answer ️️ -pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is di...

FINAL EXAM REVIEW - Texas life and healthIf, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - correct answer pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is disabled is called the: - correct answer Waiver...

Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company? a) Adhesion b) Subrogation c) Warranty d) Aleatory -:- Aleatory An insurance contract is an aleatory contract in that it requires a relatively small amount of premium for a large risk. What is the waiting period on a Waiver of Premium rider in life insurance policies? a) 30 days b) 3 months c) 5 months d) 6 months 2 0...

Which one of the following describes a windstorm under an insurance policy? -:- A wind of any velocity having sufficient force to cause damage In a specified perils policy, a loss is covered only if -:- The cause of loss is listed. A mortgagee's rights under a property insurance policy can best be described as -:- Independent of the named insured's rights and duties. A specific exclusion common to most property policies is -:- Ordinance or law. Paco Campos accidentally tosses a cig...

An insurance company and its agents must notify all applicants and policyholders of information-gathering processes utilized for written application transactions -:- At the time of delivery of the policy when personal information is only collected from the applicant, an insured under the policy, or public records. & At the time of application for the policy when information is collected from sources other than the applicant, persons under the policy, or public records. Your client wan...

C12 - Insurance on Property – Midterm Exam Questions and Answers 100% Pass Defining Property Insurance - Correct Answer ️️ --Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - Correct Answer ️️ -R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is b...

FINAL EXAM REVIEW - Texas life and health Questions and Answers 100% Pass If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - Correct Answer ️️ -pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is di...

FINAL EXAM REVIEW - Texas life and health Questions and Answers 100% Pass If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - Answer- pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is disabled is calle...

Florida Insurance Exam Questions and Answers Latest Updated 2024/2025 (100% SOLVED) The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? Conditional A life insurance arran...