When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer?

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When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer?

a) Promptly
b) Within 10 days
c) Within 20 days
d) Within 30 days

Answer: a) Promptly

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The pro rata liability clause is designed to protect the principle of
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The pro rata liability clause is designed to protect the principle of
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Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
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In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following statements are true regarding installments for a fixed amount EXCEPT
Fraternal Benefit Society has each of the following characteristics EXCEPT
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All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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All of the following are true regarding rebates EXCEPT
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What documentation grants express authority to an agent?

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