Quizlet all of the following are examples of third-party ownership of a life insurance policy except 2024

Xem Quizlet all of the following are examples of third-party ownership of a life insurance policy except 2024

Who are the parties in a third-party life insurance ownership situation?

A
The policyowner, the insured, and the beneficiary

B
The insured, the insurer, and the beneficiary

C
The policyowner, the insured, and the insurer

D
The policyowner, the insurer, and the beneficiary

  • Flashcards

  • Learn

  • Test

  • Match

  • Flashcards

  • Learn

  • Test

  • Match

Terms in this set (15)

A) Not directly involved in sales, production, or service

Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have direct
responsibilities for sales, production, or service.

Sets found in the same folder
Other sets by this creator
Recommended textbook solutions

Other Quizlet sets
Recommended textbook solutions

Mathematics with Business Applications

6th EditionMcGraw-Hill Education


3,760 solutions

Business Math

17th EditionMary Hansen

3,684 solutions

Accounting: What the Numbers Mean

9th EditionDaniel F Viele, David H Marshall, Wayne W McManus


338 solutions

Marketing Essentials: The Deca Connection

1st EditionCarl A. Woloszyk, Grady Kimbrell, Lois Schneider
Farese

1,600 solutions

All of the following statements about key person life insurance are correct, EXCEPT:

A. The business applies for, owns, and is the beneficiary of the policy covering the life of a key employee.
B. Life insurance used as key person life is normally owned by the business rather than the insured.
C. Upon the insured employee’s death, the employee’s surviving family receives the policy’s death benefit.
D. Key person, or key employee, life insurance is an example of
third-party ownership.

Recommended textbook solutions

Marketing Essentials: The Deca Connection

1st EditionCarl A. Woloszyk, Grady Kimbrell, Lois Schneider
Farese

1,600 solutions

Intermediate Accounting

14th EditionDonald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

1,471 solutions

Accounting: What the Numbers Mean

9th EditionDaniel F Viele, David H Marshall, Wayne W McManus


338 solutions

Mathematics with Business Applications

6th EditionMcGraw-Hill Education


3,760 solutions

What is an example of a third party ownership of a life insurance policy?

The insurance owner and the insured are two different entities. As in our previous example, parents buying a life insurance policy on their child when he or she is born is third party insurance ownership.

What is an example of third party ownership?

An example of a third party would be the escrow company in a real estate transaction; the escrow party acts as a neutral agent by collecting the documents and money that the buyer and seller exchange when completing the transaction.

Who is the third party in life insurance?

What Is a Third-Party Beneficiary? A third-party beneficiary is a person or business that benefits from the terms of a contract made between two other parties.

Who is a third party owner?

Third Party Owner means any person who is the legal or beneficial owner (including a Lessor) of any Assets used or occupied by, or in the possession of the Deed Company as at the Appointment Date.

Bạn đang tìm hiểu bài viết:  Quizlet all of the following are examples of third-party ownership of a life insurance policy except 2024

HỆ THỐNG CỬA HÀNG TRÙM SỈ QUẢNG CHÂU

Điện thoại: 092.484.9483

Zalo: 092.484.9483

Facebook: https://facebook.com/giatlathuhuongcom/

Website: Trumsiquangchau.com

Địa chỉ: Ngõ 346 Nam Dư, Trần Phú, Hoàng Mai, Hà Nội.

0/5 (0 Reviews)
Xem thêm:

Bài viết cùng chủ đề: