LLQP- Ethics
What is the legal age in Canada
18
What are some of the legal requirements and principles for an insurance contracts
Legal age, Legal capacity, Natural person (partnership, corporation) an Power of attorney
What does common law mean
no marriage contract
What does testate mean
a person who has died leaving a will
What does intestate mean
A person who has did who left no will
What is the minimum age to contract for insurance
16
What is an intervivos
Is paid when the holder is still alive
What is a testamentary
Is paid when when the holder is not alive
What does bankruptcy mean
When someone is unable to meet financial obligations
What are some of the criminal terms in insurance
Criminal code, Proceeds of crime and Terrorist financing act (PCMLTFA), FINTRAC-
ascertaining identity
What are the different types of photo ID required for an insurance contact?
, Canadian, passport, permanent resident card, secure certificate of Indian status, driver's
license, provincial or territorial identity cards, U.S. Passport, a French or Australian river's
license
What is a form of protection that businesses can implement to prevent solicitation?
National Do not call list (DNCL), Canadian anti-spam legislation (CASL)
What are underlying rules of an insurance contract
Agreement is established under common law principles, created by one or more parties with
shared intention of entering a binding agreement, and contract must be acceptable under
public policy
What are the federal government public plans
Canada pension plan (CPP) and disability, Old age security (OAS) AND Guaranteed income
supplement (GIS), Employment Insurance (EI)
What are the provincial government public plans
No-fault automobile insurance, workers compenstation, universal health care and drug plan
Who assumes the risk?
Insurer
Who has the right to make a change?
Policy Holder
Policy's new owner when the insured dies
Successor Policy holder
Who triggers the death benefit?
Life insured
Who receives the death benefit
Beneficiary
Who replaces the original beneficiary in case of death
Contingent Beneficiary
What is the legal age in Canada
18
What are some of the legal requirements and principles for an insurance contracts
Legal age, Legal capacity, Natural person (partnership, corporation) an Power of attorney
What does common law mean
no marriage contract
What does testate mean
a person who has died leaving a will
What does intestate mean
A person who has did who left no will
What is the minimum age to contract for insurance
16
What is an intervivos
Is paid when the holder is still alive
What is a testamentary
Is paid when when the holder is not alive
What does bankruptcy mean
When someone is unable to meet financial obligations
What are some of the criminal terms in insurance
Criminal code, Proceeds of crime and Terrorist financing act (PCMLTFA), FINTRAC-
ascertaining identity
What are the different types of photo ID required for an insurance contact?
, Canadian, passport, permanent resident card, secure certificate of Indian status, driver's
license, provincial or territorial identity cards, U.S. Passport, a French or Australian river's
license
What is a form of protection that businesses can implement to prevent solicitation?
National Do not call list (DNCL), Canadian anti-spam legislation (CASL)
What are underlying rules of an insurance contract
Agreement is established under common law principles, created by one or more parties with
shared intention of entering a binding agreement, and contract must be acceptable under
public policy
What are the federal government public plans
Canada pension plan (CPP) and disability, Old age security (OAS) AND Guaranteed income
supplement (GIS), Employment Insurance (EI)
What are the provincial government public plans
No-fault automobile insurance, workers compenstation, universal health care and drug plan
Who assumes the risk?
Insurer
Who has the right to make a change?
Policy Holder
Policy's new owner when the insured dies
Successor Policy holder
Who triggers the death benefit?
Life insured
Who receives the death benefit
Beneficiary
Who replaces the original beneficiary in case of death
Contingent Beneficiary
