T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date.
The correct answer is "Conditional receipt". A conditional receipt binds the insurer to coverage as of the date of the application or medical exam, provided the proposed insured is determined to be an acceptable risk.
Under a conditional receipt, the applicant and the insurance agency shape a "conditional" settlement this is contingent upon the situations that existed when an utility or medication exam is finished. It provides that the applicant is included right now as long as they bypass the insurer's underwriting requirements.
How is a conditional receipt nice described?
A conditional receipt is a document given to someone who applies for an coverage contract and has provided the preliminary top rate payment. This receipt manner that the character can handiest be insured if she or he meets the standards of insurability and is given approval by the insurance company.
How does a conditional receipt vary?
The distinction among a conditional binding receipt and a straightforward binding receipt is that a straightforward binding receipt requires the insurance organization to pay the dying gain as soon as the primary premium receives paid, whether or not the applicant is in the end approved or no longer. Conditional binding receipts are common.
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Answer:
both blanks can be filled by <u>5%</u>
Explanation:
The quantity theory of money states that there is a proportional relationship between the money supply and the general level of prices. An increase in the money supply will increase the general level of prices in the same proportion (called inflation).
The Fisher equation measures the relationship between nominal and real interest rates. Real interest rate = nominal interest rate - inflation rate.
So if inflation increases, the nominal inflation rate will increase to keep the real interest rate the same.
Some thing with the first 5 elements of journalism mainly timeless also contrast and controversy
Answer:
A. His sending note was a thoughtful gesture
Answer:
See answer below
Explanation:
1. Degree of operating leverage
Selling price $126,000
Variable cost $50,400
Contribution margin $75,600
Fixed cost $23,000
Net operating income $52,600
Degree of operating leverage = Contribution margin / operating income = $75,600 / $52,600
= 1.44