TX insurance Flashcards
1
Q
Adverse selection
A
insuring of risks that are more prone to losses than the average risk
2
Q
Agent/Producer
A
a legal representative of an insurance company, the classification of producer usually includes agents and brokers; agents are agents of the insurer
3
Q
applicant or proposed insured
A
A person applying for insurance
4
Q
Beneficiary
A
a person who receives the benefits of an insurance policy
5
Q
death benefit
A
the amount paid upon the death of the insured in a life insurance policy
6
Q
fraud
A
intentional misrepresentation or deceit with the intent to induce a person to part with something of value
7
Q
insurance policy
A
7
Q
A
