Loma 281 module 1 l Study guides, Class notes & Summaries

Insurance policy - ANSWER A legally enforceable contract between a policyowner who applies for and owns the policy and the insurer that issues the policy Unilateral contract - ANSWER A contract in which only one of the parties makes a legally enforceable promise when entering into the contract. (life insurance) Bilateral contract - ANSWER A contract in which both parties make legally enforceable promises when they enter into the contract Bargaining contract - ANSWER A contract in whic...

Financial services industry An industry in which financial institutions help people, businesses, and governments with their asset accumulation, asset management, and asset protection needs Financial institutions A business that owns primarily financial assets, such as stock and bonds, rather than fixed assets, such as equipment and raw materials Depository institution A financial institution that specializes in accepting deposits and making loans Securities firm A financial institution that i...

LOMA 281 Module 1 Lesson 2 exam complete solution

LOMA 281 Module 1 Lesson 1 COMPLETE SOLUTION

LOMA 281 Module 1 Lesson 3 with complete solutions

LOMA 281 Module 1 Lesson 2 Questions And Answers A+ Graded

Assume that Caryer has life insurance on his own life. Select the box beside each financial need that you think life insurance can meet Paying household expenses (utility bills, food, clothing, etc) Covering outstanding debts (mortgage and car loans, etc) Paying future outstanding medical, hospital, and funeral expenses Providing financial support for the family Funding a child's education - ANSWER All the above Term Life Insurance - ANSWER Life Insurance that provides a death benefit...

Assume that Caryer has life insurance on his own life. Select the box beside each financial need that you think life insurance can meet Paying household expenses (utility bills, food, clothing, etc) Covering outstanding debts (mortgage and car loans, etc) Paying future outstanding medical, hospital, and funeral expenses Providing financial support for the family Funding a child's education - ANSWER All the above Term Life Insurance - ANSWER Life Insurance that provides a death benefit...