Examlex
Which of the following is NOT a major duty, which the agent owes to the principal?
Life Insurance
A contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.
Insured
A person, company, or entity covered under an insurance policy to receive compensation for a specified loss or damage.
Premium
The amount paid for an insurance policy, reflecting the cost of coverage.
Beneficiary
An individual or entity entitled to receive benefits or assets from a will, trust, insurance policy, or other instruments.
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