The Rights Under an Insurance Policy Can Normally Be Assigned

question 5

Multiple Choice

The rights under an insurance policy can normally be assigned

• A)if the assignment involves only a payment of benefits.
• B)if the assignment significantly changes the risk to the insurer.
• C)if the assignment significantly alters the duties of the insurer.
• D)under no circumstances.

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Definitions:

Inflation Rate

The rate at which the general level of prices for goods and services is rising, thereby eroding purchasing power.

Reducing Inflation

Measures and policies implemented to decrease the rate at which the general level of prices for goods and services is rising.

Debt-to-Income Ratio

A financial measure that compares an individual's total debt to their total gross income, often used by lenders to assess borrowing risk.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.