Answered: You meet with an insurance agent to buy… | bartleby

Related questions

Question

You meet with an insurance agent to buy a life insurance policy covering your wife and naming yourself as the beneficiary. You complete an application and a questioner about your health and living habits and give $100 to the insurance company? Can you assume that you have a valid contract? Why or why not?

Expert Solution

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Similar questions

The text describes three ways to restore solvency to the Social Security trust fund. Which of these do you favor and why? Would you support means testing of Social Security beneficiaries? Why or why not? What suggestions would you offer to encourage people to save privately for retirement? What barriers exist that affect people’s retirement savings, and how would your ideas address those barriers?
i need the answer quickly
Assume you are the chief executive officer (CEO) of a large technology-intensive hospital in a community of 200,000 people that includes two other smaller community hospitals and a wide range of physicians and other providers working in private practice. Currently, you are paid by Medicare—the federal insurance program for the elderly—for a fixed amount for every admission to your hospital and based on the severity of the patient’s needs. Physicians and other providers in your community are paid fee-for-service. The federal government has just made an offer to your community that it form an accountable care organization (ACO) that could accept a capitated annual payment for each person eligible for Medicare. How would you go about deciding whether to accept that offer? Would you want to lead that ACO or just be a part of it? Why? Would you argue against accepting the federal offer? Why or why not? How might you change the way care currently is organized in your community, given the…
Differentiate between the risk retention and risk insurance
Instructions Write at least a three-paragraph document addressing the following points: Describe the 2 different types of risks and provide 2 small business examples for each. Compare the 4 options to manage risks. Contrast 3 common types of insurance in terms of a business's risks, including a specific example for each.
What is the definition of “indemnity” insurance? Why do you suppose it has largely been replaced by managed care? What are the three main types of managed care organizations? What are the pros and cons of each type?
If you want to purchase health insurance for yourself in the near future, what type of plan would you choose, and why? What steps can you take to keep your health costs down?
As a salesperson for a large Montreal-based robotics company. you have entered into a very complex negotiation with a major machinery manufacturer. The deal is worth millions to your company. You've been sitting across the desk from a very hard-nosed purchasing manager for days now. You discover that the purchasing manager is just months away from retirement and this will probably be his last major purchase before retirement. During one of your meetings, the prospect tells you about his impending retirement and without coming out and directly asking, he makes some subtle overtures regarding what it will take to get the deal done. He strongly hints that if you would make it worth his while personally, he would arrange to get the deal done. Your guess is that he is looking for a way to supplement his retirement. Perhaps a personal cash payout or a small cottage in the country would suffice. You figure it would cost your company approximately $150 000 to get the deal done. Explain what do…
Explain the differences between cooperative insurance and commercial insurance?
1. Why the insurance industry is regulated? Explain the reasons
Is life insurance a necessity, or is it a luxury? What considerations should an individual evaluate before purchasing life insurance? How might these considerations change when spouses and children are brought into the analysis?
who are potential customers for insurance?

SEE MORE QUESTIONS