Dec 10, 2025 | Study Notes, All Lines
Stock / Mutual / Dividends There are various ways to categorize insurance companies. One way is by where they are incorporated/headquartered and where they are doing business; domestic, foreign, alien. Another way to categorize insurance companies is by how their...
Sep 16, 2025 | Study Notes, All Lines
Elements of a Contract There are four elements that make a contract what it is. You need to understand all four elements. Agreement – First, there needs to be an agreement. An agreement is made when somebody presents an offer, and when somebody accepts it. In...
Sep 1, 2025 | Study Notes, All Lines
Certificate of Authority When an insurance company is ready to sell in a state, they will go to the Department of Insurance in that state and ask “can we sell here?” If the department of insurance is okay with that company selling in that state, they will provide them...
Aug 12, 2025 | Study Notes, All Lines
Warranty, Representation, Misrepresentation, Material Misrepresentation and Concealment A warranty is a true statement. There is nothing that should/could be wrong about it. Warranties are mostly used in Property and Casualty where you just NEED to be correct, like “I...
Jul 17, 2025 | Study Notes, Life & Health
Elements of a Legal Contract Agreement – Offer and Acceptance (Offer = Customer submits and application, Acceptance = insurer issues policy). Consideration – Both parties bring something of value (Customer brings premium and application, Insurer bring a...
Jun 25, 2025 | Study Notes, Life & Health
Annuity Basics Annuities are considered the opposite of life insurance. Instead of dying too soon, you live too long. An annuity is about making sure you have money to last you while your alive, especially if you’re retired and not bringing in income. Most of us are...
