Mutual Life Insurance Companies Specialize in the Sale of Nonparticipating

question 80

True/False

Mutual life insurance companies specialize in the sale of nonparticipating policies.

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Definitions:

Trust Created

The establishment of a fiduciary relationship where a trustee holds and manages assets on behalf of a beneficiary.

Constructive Trust

(1) An implied trust in which a party is named to hold the trust for its rightful owner. (2) An equitable trust imposed on someone who wrongfully obtains or holds legal right to property he or she should not possess.

Created

Brought into existence; the act or process of bringing something into being that did not exist before.

Rightful Owner

A person or entity that legally possesses property or title.