Insurance Fundamentals: Rapid Fire
Chapters in this video
What this video covers
- How risk, exposure, peril, and hazard differ, using the loose stair tread and fall example
- How pooling, adverse selection, and underwriting relate to insurance risk
- What offer and acceptance, consideration, competent parties, legal purpose, and insurable interest mean for contract formation
- How aleatory, unilateral, conditional, and adhesion describe insurance contracts
- How to distinguish the policyowner, insured, and beneficiary
- How stated benefits, fixed indemnity, disability income, and expense reimbursement differ
- How to calculate an expense reimbursement benefit using eligible expenses, a deductible, and cost sharing
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