In the Absence of Exclusion in a Life Insurance Contract

question 37

True/False

In the absence of exclusion in a life insurance contract, a court is most likely to construe any cause of death to be one of the insurer's risks.

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Definitions:

General Ledger

A complete record of all financial transactions over the life of a company, organized by accounts.

Income Statement

A financial statement that summarizes revenues, expenses, and profits or losses of a business for a specific period.

Financial Statement

A document that presents a detailed financial status of a company, including balance sheets, income statements, and cash flow statements, at a specific point in time.