Wisconsin life insurance Study guides, Class notes & Summaries

Stock Companies -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy owners receive dividends

Wisconsin Life Insurance Exam|Latest Update Graded A+ Cross Purchase Plans Agreements that provide that upon a business owner's death, surviving owners will purchase the deceased's interest, often with funds from life insurance policies owned by each principal on the lives of all other principals. Entity Plans Agreements in which a business assumes the obligation of purchasing a deceased owner's interest in the business, thereby proportionately increasing the interests of surviving ow...

Wisconsin Life Insurance Course Exam Questions With Answers Graded A+ Stock Companies -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy owners receive dividends Lloyd's of London -A syndicate of individuals who underwrite insurance Reinsurers -are a specialize...

Wisconsin Life Insurance Exam @ 2023

Who must have an intermediary's license? - Anyone wishing to sell insurance in Wisconsin Which of the following need an intermediary's license? -Insurance company officers... -An insurance "advisor"... -Agency secretary... -A person entering confidential information in a database... - An insurance "advisor" The fee for a biennial Wisconsin intermediary's license is: - $35 every 2 years How many hours of continuing education are required in Wisconsin? - 24 hours every 2 years If an...

Wisconsin Life Insurance Exam|Latest Update Graded A+ Mortality The rate people will die Morbidity The rate people will get sick Peril The cause of loss and the event insured against. Ex: premature death, dependency during old age, accident, and sickness Adverse Selection The tendency for poorer than average risks to seek out insurance Annuity Annuities protect against the risk of living longer than expected. Annuities provide a guaranteed life income to protect agains...

Life Insurance Exam - Wisconsin Questions & Answers 2024 ( A+ GRADED 100% VERIFIED)

Wisconsin Laws and Rules Pertinent to Life and Health Insurance Questions and Answers Latest Update Already Passed In regards to technology and the ACA, which of the following statements is correct? States which operate with an Exchange must offer an internet-based portal Health providers are compensated by a preferred provider organization (PPO) for normal dental procedures by what means? Decreased fee schedules An insured's statement of a policy's benefits which is to be used in...

NWM General Wisconsin Insurance Laws Questions and Answers 100% Pass What is coersion? A forceful act or threat aimed to influence a person to act against their will What is exempt? Not subject to an obligation What is an inducement? an offer that attmepts to influence the other party What is insolvent? Unable to meet financial obligations What is Lapse? A policy termination due to nonpayment of premium What is the NAIC? National Association of Insurance Commissioners Wh...