Which parts of a life insurance policy are guaranteed to be true quizlet
Statements made on an insurance application that are believed to be true to the best of the applicant's knowledge are called representations. Which of these is considered a statement that is assured to be true in every respect? A warranty is a statement that is considered guaranteed to be true.
Which parts of a life insurance policy is guaranteed to be true?
Among the guaranteed elements are policy benefits, premiums, values, credits, and charges that are guaranteed and determined at issue.
Which of the following statements is guaranteed to be true and if untrue may breach?
What is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? Warranty. A warranty in insurance is a statement guaranteed to be true.
What is guaranteed true insurance?
Warranty. in insurance is a statement guaranteed to be true.
Which of the following is not true about term life insurance?
Which of the following is not true about term insurance? Term insurance does NOT build any cash value. While age is not the only consideration, premiums are generally lower for younger insureds. The correct answer is: Term insurance builds cash value.
What is the part of a life insurance policy guaranteed true?
Terms in this set (33) The part of a life insurance policy guaranteed to be true is called a(n) representation exclusion warranty waiver Warranty A policy of adhesion can only be modified by whom?
When is an individual entitled to an individual life policy?
If the insurance provided on an individual ceases because of termination of employment or of membership in the class eligible for coverage, the individual will be entitled to have an individual life policy issued without evidence of insurability, if application is made within how many days of termination?
How does life insurance investing work?
This is done when an investor (or stranger) persuades an individual to take out life insurance specifically for the purpose of selling the policy to the investor. The investor compensates the insured and makes the premiums, then collects the death benefit when the insured dies.
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