QUESTION IMAGE
Question
what contract states that both parties must follow certain rules in the contract to make it enforceable
aleatory
ahesion
conditional
reasonable expectations
what approach looks into the needs of the family current situation to determine proper coverage
human life value
needs approach
current approach
future income approach
what are the 3 parts of the application?
general information, medical, survey questions
medical information, qualification section, agents report
general information, medical, agents report
agents report, medical report, income reports
Brief Explanations
- A conditional contract requires both parties to fulfill specified terms for enforceability, matching the first question's description.
- The Needs approach specifically assesses a family's current situation to set appropriate insurance coverage, aligning with the second question.
- Standard insurance applications typically include three core components: general personal information, medical details, and an agent's report, which matches the third question's correct option.
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- Conditional
- Needs approach
- General information, medical, agents report