The so-called « Common Disaster » clause provides that if the insured and the only designated beneficiary die in the event of a common accident, which of the following points applies? Life and sickness insurance is considered unilateral contracts because one party makes a promise and the other party can only accept it through the benefit. N is subject to a maturity policy and does not make the necessary premium payment as of August 1. N died on September 15. What action will the insurer take? An insurance contract is either a value contract or a compensation contract. An estimated contract pays a declared amount, regardless of the actual damage suffered. Life insurance contracts are assessed contracts. If a person buys life insurance for $500,000, that is the amount to be paid in the event of death. There is no attempt to assess the actual financial harm after a person`s death. In life insurance, what is the provision that can choose insurance options, designate and designate a beneficiary and receive financial benefits from the policy? -The premiums that remain fixed for the duration of the policy Which of them describe a participating life insurance? What kind of life policy has a death benefit that adjusts periodically and is written for a fixed period of time? Can an insured`s inability to perform two or more activities of daily living trigger what type of police rider? M has an insurance policy that, at the time of M`s death, also has an unpaid insurance loan. The insurer deducts the outstanding credit balance: premiums are payable as long as insurance coverage is in effect There is Stranger-Originated Life Insurance (STOLI) Transactions are life insurance in which investors convince individuals (usually seniors) to purchase new life insurance, with investors designated as beneficiaries.

This is sometimes called exposure to the life of investors (IOLI). These rules are used to circumvent government-guaranteed interest rate rules. Insurance policies are offered on a « take or leave » basis: K itself applies for life insurance and deposits the initial premium with the application. She receives a receipt from the agent indicating that coverage begins immediately when the application is approved. What type of receipt was used? Life insurance is a personal contract or a personal contract between the insurer and the insured. The owner of the policy has no influence on the risk the insurer has taken. This is why people who buy life insurance are called policyholders and not as policyholders. Political owners do have their policies and can give them if they wish. This transfer of ownership is called transfer.

To assign a policy, an insurance policyholder only notifies the insurer in writing. The company then no doubt accepts the validity of the transfer. The new owner will be granted all rights to the property rights of the policy. The amount of coverage on a collective credit living policy is limited to: acceptance of premiums and their detention for the insurance company is an example of: « Those under the influence of alcohol or narcotics Each state has its own laws on the legality of minors and the mentally ill who enter into insurance contracts. These laws are based on the principle that some parties are unable to understand the contract they accept. Which of these vital products is not considered to be sensitive to interests? Question 12: Is a professional liability against which manufacturers can be sued for errors in the implementation of a policy defined as precise, which of these concepts specifically defines an insurer`s assessment of information relating to a life insurance claim? Typically, investors lend money to the insured to pay premiums for a period of time (usually two years based on the life insurance challenge period).