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video 1 (an insurance company may compensate all of the following people…
video 1
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without section 125 in place, the employer would pay payroll tax and fica on the contribution amount
section 125 is where the employer pays for qualified benefit premiums before any taxes are deducted from employee paychecks
insurance company uses rate classes to determine who is approved. so they can discriminate between individuals from different classes
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life and health insurance guaranty association apply to life and health policies issued by companies authorized to issue such policies
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a purpose of the life and health insurance guaranty association is to assist in the prevention of insurer insolvencies
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before approving an application for a business entity acting as an agent they must find that the entity designated an agent must responsible for compliance with insurance laws
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own occupation clause states that insureds are totally disabled when they cannot perform the major duties of their regular occupation
the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within 30 days
a business continuation plan includes key person insurance, cross purchase agreement, and stock redemption plan -- not deferred compensation
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subrogation is the rights of the insurer to recover payment made to the insured from the negilgent party
under long term care insurance, an insurer must offer to each policyowner an inflation protection feature at the time of purchase