If Scott and Wendy file bankruptcy, which of the following is TRUE regarding their insurance policy

a. Scott and Wendy can abandon their property to the insurance company because they no longer have an insurable interest.

b. The insurer's responsibilities are not eliminated.

c. The mortgage company loses its interest in the property.

d. Scott and Wendy's interest in their property is excess over any other creditors.

Answer: b. The insurer's responsibilities are not eliminated.

Insurance

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A domestic insurer issuing variable contracts must establish one or more
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The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
Ambiguities in an insurance policy are always resolved in favor of the
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
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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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The pro rata liability clause is designed to protect the principle of
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What is the benefit of choosing extended term as a nonforfeiture option?
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All of the following statements concerning dividends are true EXCEPT:
All of the following are true regarding rebates EXCEPT
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What is the purpose of establishing the target premium for a universal life policy?
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