TEXAS ESTHETICIAN > EXAM > Texas Life and Health Insurance Study Guide 2023 A+ Rated Guide | Questions and Answers (Solved) (All)
Texas Life and Health Insurance Study Guide 2023 A+ Rated Guide | Questions and Answers (Solved)
Document Content and Description Below
1. Individual Answer: premiums paid with after tax dollars, not tax deductibledeath benefit tax free, lump sum- death benefit taxable to an estatedividend tax free, accumulate at interest, interest... taxable 2. Insurance Answer: transfer of risk 3. Agent Answer: producer or field underwriter 4. Insurer Answer: principle 5. agency contract Answer: between agent and insurer- spells out each one's dutiescontains the express authority 6. applicant/proposed insured Answer: seeks insurance from insurer 7. death benefit Answer: face amount- paid to beneficiary 8. beneficiary Answer: receives the policy proceeds when insured dies- doesn't have tosign contract 9. policyowner Answer: has all rights and privileges in a policy-pays premium, makingchanges, naming beneficiary- may or may not be insured 10. 3rd party ownership Answer: insured and policyowner are different people- parent/child; key person; group life/health 11. Application Answer: main source of underwriting [Show More]
Last updated: 1 year ago
Preview 1 out of 22 pages
Buy this document to get the full access instantly
Instant Download Access after purchase
Buy NowInstant download
We Accept:
Reviews( 0 )
$10.00
Can't find what you want? Try our AI powered Search
Document information
Connected school, study & course
About the document
Uploaded On
Apr 22, 2024
Number of pages
22
Written in
Additional information
This document has been written for:
Uploaded
Apr 22, 2024
Downloads
0
Views
40
