WV Life Insurance - Guías de estudio, Notas de estudios & Resúmenes

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive? $100,000 The dividend option in which the policyowner uses dividends to purchase a term policy for one year is referred to as the One-yea...

A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated? 1970-Fair Credit Reporting Act Q purchases a $500,000 life insurance policy and pays $900 in premiums over the first six months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of unequal values reflects which of ...

A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated? 1970-Fair Credit Reporting Act Q purchases a $500,000 life insurance policy and pays $900 in premiums over the first six months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of unequal values reflects which of ...

WV LIFE INSURANCE LAWS AND RULES

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If insurance fails to notify the mortgage that the policy is canceled and there is a fire loss, what could the mortgage company collect? - ANSWER Up to the policy limit Which amount would be paid on a Total Loss Vehicle? - ANSWER Official Used Car Guide Amount Can an adjuster give legal advice? - ANSWER No