LHVA-FL

Stock Company

Profit for stock holder
Mutual Company

Can pay dividends
Dividends

Return of Premium
Ceding Company

Keeps some of the risk
Best Report

Determine Financial Strengths
Fraternals

Sells certificates not policies
Reinsurer

Shares some risk
HMO

Emphasizes preventative medicine
Example of Misrepresentation

Dividends are quaranteed
Fair Credit Reporting Act

Protects consumer rights
Blue Cross

Covers hospital bills
Rebating

Inducement to buy
Twisting

Not telling possible disadvantages
Armstrong Investigation

1905 cash values to policy holders
McCarren Ferguson Act

1945 state regulation of insurers
Consideration

Money and Application
Warranty

A guarantee
Fiduciary

Financial Trust
Error and Omission Insurance

Malpractice insurance
Aleatory Contract

Unequal value is given
Contract of Adhesion

Take it or leave it
Waiver

Giving up of rights
Valued contract

Pays a stated benefit
Reimbursement Contract

Health insurance
Insurable interest

Must exist at issue date or inception
Express Authority

Written authority via contact
Implied Authority

Tools of the trade
Apparent authority

Assumption of authority

Author

Anonymous

ID

147022

Card Set

LHVA-FL

Description

Florida Life, Health and Variable Annuity

Updated

4/11/2012, 4:59:06 PM

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