C. POS codes tell the insurance company where the services were provided.

Q: Identify how life insurance fund appears in the financial statements? a. The debit side of the…

A: Life Insurance Fund- It is a fund which helps the entity in making payment for its obligation which…

Q: When should a company report the cost of an insurancepolicy as an expense?a. When the company first…

A: Insurance expense refers to the cost of insurance i.e. insurance premium incurred. An insurance…

Q: Compare whole-life and term insurance.

A: Insurance is a legal agreement between an insurer (insurance company) and an insured person.

Q: How tools are used in insurance risk management

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: What kind of insurance  forms may not be included in the comprehensive forms?

A: Insurance: Insurance is the protection against an individual or an asset for the financial losses…

Q: What are your recommendations for Insurance companies ?

A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio

Q: What is the role of Insurance company?

A: Answer no 3. Insurance companies are a part of financial system and considered as a safeguard the…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: What is life insurance company?

A: Life insurance: Life insurance is an agreement among an insurance corporation (insurer) and an…

Q: in insurance terminologies this means that a life insurance policy has been paid and active?

A: In insurance terminology premium means that a life insurance policy has been paid and active.

Q: Define the term prepaid insurance.

A: Prepaid expenses: Advance payment for future expenses is called as prepaid expenses. These prepaid…

Q: What is the importance of insurance companies?

A: Insurance firms are financial middlemen that provide direct insurance or reinsurance services,…

Q: What levels and kinds of risks are properly and mosteconomically passed on to insurance carriers?

A: Levels of risk are: High It involves a huge amount of risks involved that are needed to be insured…

Q: An insurance refers to a signed agreement between the insured and the insurer. a. Security b.…

A: In Insurance there are two parties, Insurer and Insured

Q: Discuss how benefits of insurance has sustained the insurance industry to date

A: Insurance is an arrangement under which a person or agency receives financial security or…

Q: Medigap insurance is a government medical insuran needy.

A: Private insurance companies sell and administer Medicare supplemental insurance, or Medigap. They…

Q: The life Insurance Solicitation regulation requires an insurer to provide which of the following…

A: Life Insurance Solicitation regulations are adopted by the Illinois Department of Insurance. This…

Q: The insurance Commissioner must approve which of the following types of insurance rates prior to…

A: An insurance is defined as the method of the risk management with the regard to one's properties or…

Q: Explain the relationship between substantive tests of transactionsfor the acquisition and payment…

A:

Q: The number of statutory books maintained by all insurance companies are

A: Insurance is the contract between two parties. Whereby one party agrees to make lose into good of…

Q: dicuss undertaking in insurance

A: Insurance refers to a contract in the form of a policy between the insurance holders and insurance…

Q: Entity A obtains life insurance for its key employee from Entity B (an insurance company). Entity B…

A: Account for Insurance Contract Here the actual facts which was incurred was Entity A can obtain life…

Q: The Director of Insurance has the power to. make reasonable insurance rules and regulations…

A: Insurance means a contract between two parties in which one party bears the risk of the other party…

Q: How does the Insurance Commission assure the investing public on the safety of the Insurance…

A: Insurance Commission is an amount paid to the broker or agent of insurance products for selling the…

Q: explain five different parts of an insurance contracts and what purpose each serves. Give examples…

A: A contract for insurance is a legally binding agreement between two parties, one of whom is known as…

Q: Insurance

A: Insurance is protection against unforeseen risks. It compensates for the losses suffered either by…

Q: Compare and contrast the early historical accounting for postretirement health care and life…

A: Historical cost accounting is an important technique that records assets on a statement of financial…

Q: Insurance companies may use all of he following sources to oblain underwriting information about an…

A: Insurance is an agreement between the insurer and the insured, where the insurer agrees to pay an…

Q: what is the role of the Insurance Core Principles as it relates to underwriting risks, in the…

A: It is very important to evaluate and regulate the insurance supervision. There will be flaws in the…

Q: Discuss in a report of , the following points:       1- Concept and types of insurance with a…

A: Insurance is basically a contract between two parties in which one party called insurance company…