0
In general he can. The fact that they are married does not, in itself, prevent the transaction. The agent can also be named as the beneficiary. The spouse has an "insurable interest" in the life of the other spouse due to "love and affection".
It is important, though, that the insured spouse change the beneficiary in the event of divorce, unless he/she wishes the ex to nonetheless get the proceeds. This is because in general, an insurable interest must exist only at the inception of the policy.
Add your answer:
Earn +20 pts
Can a life insurance agent can sell RRSP and TFSA products?
yes
How can an unregistered agent sell a 401K group annuity?
Annuities are considered Life Insurance, so if the agent isn't selling a variable annuity, he doesn't have to be securities licensed.
How much commission to insurance agent on Universal LIfe policies?
In Canada, in the case of a brokerage (independent business that can sell products from a number of different insurance companies) usually 60% of the 1st year's premium goes to the insurance brokerage (business that the aggent works for) and then the agent may get 60% of that . If a brokerage does enough volume, they may qualify for a "bonus" from the insurance company and the agent may receive a portion of this too, upon the descretion of the brokerage.
Can you sell a 20 year term life insurance policy which has no cash value?
Can you sell a 20 year term life insurance policy which has no cash value
What is the difference between variable life insurance and traditional life insurance?
Variable is a scurity and has risk. Whole life is all guaranteed. If you are considering between the two you should be sitting down with an agent that is a Registered Rep and licensed to sell securities! This is never something that should be done on your own or over the internet!
Can life insurance agent sell general insurance?
No.
Can a life insurance agent can sell RRSP and TFSA products?
yes
What is an agent fiduciary capacity?
To sell variable life insurance policy polices, agent must recieved
Who can sell insurance?
You have to be a licensed agent in the state you want to sell insurance. Also, you need to be appointed by the carrier/ insurance company you want to sell for.
How do you become an auto insurance agent in ca?
How do you become an auto insurance agent in Ca? sell a car
What insurance company would sell liability insurance for net metering?
Contact an agent in your area, if they do not sell this type of coverage they will be able to direct you to an agent that does.
Where can I find inexpensive health insurance in Las Vegas Nevada?
To purchase health insurance simply contact a local insurance agent. Agents that can sell life insurance can also offer health insurance.
How can an unregistered agent sell a 401K group annuity?
Annuities are considered Life Insurance, so if the agent isn't selling a variable annuity, he doesn't have to be securities licensed.
How can one make life insurance loans?
You can make life insurance loans through an insurance agent or bank. You probably first get a life insurance policy. You then fill out an application and the agent will process the application and give the loan. You can borrow up to $500,000 which will be subtracted from you death benefit. You then have to repay the loan off when you are done with it. Life insurance policies are forfeited when you sell you life insurance policy through settlement. Your beneficial will receive the portion of the money you paid back.
What role does a insurance advisor have?
An insurance advisor/agent gives probable customers knowledge about an Insurance Plan and sell Insurance Policies. There are three types of insurance agents : 1. Life Insurance Agent. 2. General Insurance(Non-Life) Agent. 3. Composite Insurance Agent(i.e. both life and non life agent). An insurance broker can also be an insurance advisor. Difference between an insurance agent and an insurance broker are: 1. An insurance agent is employed by only one general insurance company or one life insurance company or both(depending on the type of Agent) but an insurance broker can work with any insurance company(Life or General). 2. An insurance agent is accountable to Insurer(insurance company) but an insurance broker is accountable to customers, i.e. an insurance broker works on behalf of customers to seek a better insurance plan. 3. Both agents and brokers are reimbursed by insurance company. 4. There is no capital requirement for Insurance Agents but Insurance brokers must have capital of Rs. 50 lakhs for direct broker, Rs. 1 crore for reinsurance broker and Rs. 2.5 crore for composite broker. Generally Insurance brokers works with big businesses whereas agents work with all type of businesses.
Do you need a license to sell Health insurance in Texas?
Yes you will need a license to sell in Texas. Insurance Agent Licensing is regulated by Texas Department of Insurance and other state departments. Each state departments has its own insurance agent licensing requirements and examination procedures. Texas Department of Insurance does not authorize pre-licensing coursework for both Life & Health and Property & Casualty licenses, however there is a mandatory requirement for the Insurance Agent license.
Can you apply with any insurance agent for medicare supplemental insurance?
Yes. Insurance agents that sell Health/Medical insurance can help you apply for Medicare supplemental insurance. Not all insurance agents cell all types of insurance. You will need to check with your agent to see if they sell health/medical insurance
