Question 2007 of 303 · California Life-Only Agent Exam
What does it mean to say that insurance is a personal contract?
Exactly one answer is correct.
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Correct answer to question 2007
- B: It insures a particular person, so that person is evaluated
Explanation
The insurer underwrites a specific individual's risk, so coverage does not automatically pass to someone else. Insurance is a contract with the person, not with the property or a general group.
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