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LHVA-FL
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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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