May 23, 2025 | Study Notes, Life & Health
Buy-Sell Agreement A buy-sell agreement is when there are two or more people who have started a business together. Each partner buys insurance on each other just in case one of them dies or becomes disabled. This allows the still alive business owner who has not died...
May 21, 2025 | Study Notes, Property & Casualty
Personal Auto Policies Quick Breakdown: Part A: Liability – Pays to others that you injure in an accident. Limits are usually either split limits, or combined single limit. Part B: Medical Payments – Pays to you and your passengers in your car for injuries...
May 16, 2025 | Study Notes, Life & Health
Nonforfeiture Options: Extended Term, Reduced Paid-Up, Cash Assume you have had a whole life policy for awhile. You have made the premium payments and never touched the cash value so it’s been growing as it should. You get to a point in life where maintaining this...
May 14, 2025 | Study Notes, Life & Health
Limited Pay Life Limited Pay life, where you buy a WHOLE life policy, but only make payments for a certain period of time. Essentially you pay the premium off faster. For instance, a guy at 40 buys a Limited Pay Whole life policy. He wants permanent coverage, but he...
May 12, 2025 | Study Notes, Life & Health
Joint & Survivorship Life In an effort to save money, or to make things simple, people may purchase life insurance together. When we do this, we are buying joint life insurance policies. What the insurance company will do is take the average age of both people,...
May 9, 2025 | Study Notes, Life & Health
Co-insurance & Deductible Math for Medical Plans Matt had a doctor bill of 1000. He had a deductible of $500 and 80/20 co insurance. First step, remember what is what, that Matt has to pay the deductible first and then co-insurance kicks in. The first #, 80, is...
