In an Effort to Reduce the Uneasiness of Buyers, Sellers

question 12

Multiple Choice

In an effort to reduce the uneasiness of buyers, sellers often send out mailings to assure buyers that the buyers did indeed make a wise purchase. These statements, subsequent to the sale, also can be regarded as:

• A) implied warranties.
• B) wagering agreements.
• C) express warranties.
• D) indemnities.

Examine the differences between mutual and stock life insurance companies, and their policy offerings.

Recognize the impact of policyholder's age and policy type on life insurance premiums.

Acknowledge the purpose and benefits of different life insurance policy options and adjustments.

Understand the distinction between term and permanent life insurance.

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Definitions:

Compensatory Damages

Monetary awards issued to a plaintiff to compensate for actual losses, injuries, or damages they have incurred.

Liability Case

A legal dispute or lawsuit in which the plaintiff seeks damages from the defendant due to injury or loss caused by the defendant’s actions or negligence.

Increase Of Hazard Clause

A provision in insurance policies allowing the insurer to void the policy if the risk insured against significantly increases.

Punitive Damages

Punitive Damages are monetary compensations awarded in civil cases to punish the defendant for willful, fraudulent, or grossly negligent acts, and to deter similar conduct.