All categories

2 years ago

t applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of date

1 answer:

8 0

T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date.

The correct answer is "Conditional receipt". A conditional receipt binds the insurer to coverage as of the date of the application or medical exam, provided the proposed insured is determined to be an acceptable risk.

Under a conditional receipt, the applicant and the insurance agency shape a "conditional" settlement this is contingent upon the situations that existed when an utility or medication exam is finished. It provides that the applicant is included right now as long as they bypass the insurer's underwriting requirements.

How is a conditional receipt nice described?

A conditional receipt is a document given to someone who applies for an coverage contract and has provided the preliminary top rate payment. This receipt manner that the character can handiest be insured if she or he meets the standards of insurability and is given approval by the insurance company.

How does a conditional receipt vary?

The distinction among a conditional binding receipt and a straightforward binding receipt is that a straightforward binding receipt requires the insurance organization to pay the dying gain as soon as the primary premium receives paid, whether or not the applicant is in the end approved or no longer. Conditional binding receipts are common.

Learn more about conditional receipt here :- brainly.com/question/14332118

#SPJ4

You might be interested in

K owns a variable annuity with an assumed interest rate of 4%. If the actual performance of the separate account(s) is 5%, the e

pickupchik [31]

Answer:

Since the actual performance of the separate account is actually higher than the assumed interest by 1 %, this means that K will be paid 1% more on the value of his/her annuity account.

Explanation:

An annuity account is a policy holder's investment account where the insurance company invests on behalf of the annuitant. The insurance company determine an assumed interest rate that will cover for the insurance company costs and the profit margin that will be paid to the annuitant periodically.

Annuity interest help investors plan for retirement income since the annuitant knows how much they expect to receive upon maturity of the policy. Knowing how to calculate the value of an annuity can also help investors to consider other investment options.

An assumed interest rate that is determined by the insurance company. This is the value of the annuity account and the annuitant should not be paid below the value of this rate. The actual interest rate is the actual performance of the investment in the market. If this rate increases, then the value of payment to be made to the annuitant also increases.

In our case, the actual performance of the separate account is actually higher than the assumed interest by 1 % this means that K will be paid 1% more on the value of his/her annuity account.

4 0

3 years ago

A __________-__________ bond is a straight fixed-rate bond issued in one currency that pays coupon interest in that same currenc

riadik2000 [5.3K]

A dual-currency bond is known to be a hybrid debt instrument that often has payment obligations over the life of the issue. A dual currency bond is a straight fixed-rate bond issued in one currency that pays coupon interest in that same currency.

In dual currency bond, the borrower often makes coupon payments in one currency, but get the principal at maturity in another currency.

Its advantage is that Investors using this bonds often gets higher coupon payments than straight bonds etc.

Straight fixed-rate bond issues often have a Known maturity date where the principal of the bond issue is said to be repaid.

Learn more from

brainly.com/question/2692687

3 0

2 years ago

"Americans in this decade are less likely than in the prior decade to say they want to lose weight, with the average dropping fr

Scilla [17]

Answer a. Estimate a population proportion.

Explanation:

A population proportion denotes a specific attribute of a population measured in percentage, the above analysis is on losing weight by the populace.

A mean only refers to the average of the population without reference to a particular quality.

The analysis is not testing a claim but it's only making reference to earlier findings on the population. A claim would have given us a specific quality which the population has been predicted or established to adhere to.

4 0

3 years ago

How can inappropriate use of power by managers have a negative effect on employees? How might it negatively affect the business?

Kruka [31]

The inappropriate use by managers may get out and stop customers from shopping there

5 0

3 years ago

Although we usually think of marketing in terms of the piles of consumer goods begging for our dollars every day, the reality is

elixir [45]

Answer: a lot more

Explanation: Organizations and businesses buy a lot more than consumers. They purchase industrial goods in large quantities to further process or use in their own business operations.

5 0

3 years ago