Which of the following statements regarding policy delivery is NOT true?
A) The agent should explain the policy provisions, riders, and exclusions to the policyowner.
B) The insurer may mail the policy to the policyowner in some states.
C) The agent may hold on to the policy for safekeeping without showing it to the policyowner.
D) The agent is often required to obtain a dated receipt from the policyowner to verify delivery."
Ans: C) The agent may hold on to the policy for safekeeping without showing it to the policyowner.
You might also like to view...
Ignoring defaults, what is the approximate effective cost of factoring if receivables are sold at a 4% discount and the average collection period is 2 months?
A) 26.53% B) 19.40% C) 27.75% D) 24.00%
If a person buys a computer, the sales contract for it would be subject to Article 2 of the UCC
Indicate whether the statement is true or false