Kentucky Life Insurance Bundled Package

The premiums paid by an employer for his employee's group life insurance are usually considered to be Correct Answer Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? Correct Answer Business expenses These are all accurate stat...

Whether an insurable interest exists between the individuals Correct Answer if an applicant for a life insurance policy and person to be insured by the policy are two different people, the underwriter would be concerned about what Pay a reduced death benefit Correct Answer an insured has had a li...

A. All the incidents of ownership in the policy belong to the donee. Correct Answer In an outright gift of life insurance to a charity A. All the incidents of ownership in the policy belong to the donee. B. The donor retains the right to name a new beneficiary. C. The cash values in the p...

Important Contractual Concepts: Executory Contract Correct Answer Contract that is not completed immediately; some future act remains to be done to consummate the contract Important Contractual Concepts: Contracts of Adhesion Correct Answer one sided contract -- no negotiating Important Contra...

Risk Correct Answer The uncertainty or chance of a loss occurring Pure Risk Correct Answer Refers to situations that can only result in a loss or no change. There is no opportunity for financial gain. It is the only type of risk that insurance companies are willing to accept. Speculative R...