California Life Insurance 12-hour course Flashcards
1
Q
Private Life Insurance Company
A
Profit making
2
Q
Stock Company
A
Stock holders own company
Taxable stock dividends
3
Q
Mutual Company
A
Owners own
4
Q
Domestic Company
A
Home state
5
Q
Foreign Company
A
Another state
6
Q
Alien Company
A
Another country
7
Q
Industrial Life
A
Burial life insurance
No medical exam
8
Q
Re-Insurance
A
Large amounts
9
Q
Admitted
A
Certificate of Authority
10
Q
Who is the Principle
A
The client
11
Q
Adhesion
A
Contract drafted by 1 party that the other party must ADHERE to
12
Q
Unilateral
A
One party make promise
13
Q
Conditional
A
Owner pays premiums
14
Q
Representation
A
Believed to be true
15
Q
Concealment
A
Deliberately withholding facts
16
Q
Waiver
A
One party give up right (insurance company can cancel policy
17
Q
Estoppel
A
Insurer cannot cancel policy doe to late payment
