Insurance Terms and Concepts Quiz
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Questions and Answers

Conservation does not include such routine administrative procedures as ______, late payment offers or reinstatement offers.

late payment reminders

“Direct-response sales” means any sale of life insurance or annuity where the insurer does not utilize an insurance producer in the ______ of the policy.

sale or delivery

“Existing insurer” means the insurance company whose policy is or will be ______ or terminated in such a manner as described within the definition of “replacement.”

changed

“Existing life insurance or annuity” means any life insurance or annuity in ______, including life insurance under a binding or conditional receipt or a life insurance policy or annuity that is within an unconditional refund period.

<p>force</p> Signup and view all the answers

“Conservation” means any attempt by the existing insurer or an insurance producer to ______ a policy owner from the replacement of existing life insurance or annuity.

<p>dissuade</p> Signup and view all the answers

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