Agentproducer - Study guides, Class notes & Summaries

Adverse selection - ANSWER insuring of risks that are more to losses than the average risk Agent/Producer - ANSWER legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer Applicant or proposed insured - ANSWER a person applying for insurance beneficiary - ANSWER a person who receives the benefits of insurance policy Death Benefit - ANSWER the amount paid upon the death of the death of the i...

NJ Life and Health Insurance Test Questions and Answers 2024 Latest Edition

Adverse selection - ANSWER insuring of risks that are more to losses than the average risk Agent/Producer - ANSWER legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer Applicant or proposed insured - ANSWER a person applying for insurance beneficiary - ANSWER a person who receives the benefits of insurance policy Death Benefit - ANSWER the amount paid upon the death of the death of the i...

Adverse Selection - ANSWER insuring of risks that are more prone to losses than the average risk agent/producer - ANSWER legal representative of insurance company producer - ANSWER includes agents and brokers agent - ANSWER agent of the insurer applicant - ANSWER a person applying for insurance beneficiary - ANSWER person who receives benefits of an insurance policy death benefit - ANSWER the amount paid upon death of the person insured through life insurance insurance polic...

Insurance - ANSWER Transfers the risk of loss from an individual or business entity to an insurance company, which spreads the costs of unexpected losses to many individuals Agent/Producer - ANSWER A legal representative of an insurance company Insurance Policy - ANSWER A contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events What is underwriting? - ANSWER The risk selection and class...

Agent/Producer - ANSWERS-A legal representative of an insurance company Broker - ANSWERS-An insurance producer not appointed by an insurer and whom represents the client Insured - ANSWERS-A person covered by an insurance policy Insurance policy - ANSWERS-A legal contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured/beneficiary for losses caused by specific events Principal - ANSWERS-Insurer, company who issues insurance policies Policyow...

MO Health & Life Insurance Exam 100% Correct(Latest Update 2024)

Exam FX - Wisconsin Life agent/producer - Answer- legal representative of insurance company Applicant or proposed insured - Answer- a person applying for insurance beneficiary - Answer- one who receives benefits of insurance policy Death Benefit - Answer- The amount payable upon the death of the person whose life is insured. insurance policy - Answer- a written contract between the insured and an insurance company that promises to pay for all or part of a loss Insured - Answer-...

Agent/Producer - ANSWER-A legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer Applicant or proposed insured - ANSWER-a person applying for insurance Beneficiary - ANSWER-a person who receives the benefits of an insurance policy Broker - ANSWER-an insurance producer who is not appointed by an insurance company and who represents the client Death Benefit - ANSWER-the amount paid upon the ...