Mar 10, 2025 | Life & Health, Study Notes
Whole Life, Cash Value and Automatic Premium Loans A Whole Life policy is saving your OWN money for your OWN death, but if you happen to die early, life insurance will kick in to make up the difference of what you didn’t save. Check out this chart. The top of...
Mar 7, 2025 | Life & Health, Study Notes
Insurable Interest A valid insurable interest may exist between the policy owner and the insured when the policy is insuring any of the following: Policyowner’s own life; The life of a family member (a spouse or a close blood relative); or The life of a business...
Mar 5, 2025 | All Lines, Study Notes
General Insurance Study Tip: Make note cards with the Bolded words on one side and the definition on the other. Insurance is the transfer of risk of loss. Risk is the uncertainty or chance of loss occurring Two types of Risk: Pure Risk is loss or nothing, no chance of...
Mar 3, 2025 | Life & Health, Study Notes
Completing the Application Role of the Agent: Think of yourself as an agent who visits clients at their homes to fill out insurance applications and later, to deliver the issued policies. Understanding Underwriting Purpose of Underwriting: To gather info about the...
Jan 23, 2025 | All Lines, Study Notes
Hazard Vs Peril Let’s talk about how the risk can lead to a loss that insurance companies will cover. A Hazard is something that will increase the chance of a loss, and there are three types: Physical, Moral and Morale. Physical The easiest is physical, you can see...
Jan 22, 2025 | All Lines, Study Notes
All Lines: Law of Large Numbers When we buy insurance, we are paying a relatively small amount of money (the premium) and in return we may be receiving a very large claim payout (this concept is called Aleatory, an exchange of unequal amounts). How can insurance...
