Third Party Interests
Loans money to purchase a vehicle
Lienholder
Age someone qualifies for Defensive Driving Discount
55 or Older
Endorsement needed to provide rides for a fare.
TNC
True or False:
Foreign drivers allowed to be listed as drivers on a policy.
True - After 2 years they must obtain a USA DL.
Age cut off for Short Term Disability
Age 59
Allows use and possession of a vehicle during a certain time period for a specified fee.
Lessor
Coverage that pays bodily injury when an insured is in a car accident caused by an uninsured, unknown or underinsured driver.
Uninsured Motor Vehicle
Age drivers should be added in Legacy vs Policy Center
Legacy 15
Policy Center 16
True or False:
Endorsement is needed to deliver packages
False, just need to know if they do it full time, part time, etc. to determine if they need business use listed.
Policy where you are not eligible if your spouse or significant other is pregnant
Supplemental Health Insurance
Extends bodily injury and property damage liability to someone not normally covered by a policy.
Additional Insured.
Item needed for the home alert discount on a home.
Alarm certificate - alarm companies will provide
Billing statement will work for renewals, but certificate is needed for new policy.
Business use is added at this point
When a vehicle is used at least 50% or more
Motorcycles are written in the same company as the personal auto policies.
True.
Rider that provides temporary insurance until age 25 or principal insured attaining age 65.
CTR
True or False:
Additional Insureds other than Mortgage companies can be listed on a home policy.
True
Weight over 10,000 OR
Altered Body
DAILY DOUBLE
Tool that is used to look at home surveys which includes photos.
Age you become eligible for a GIFE
Age 45
Antique vs Classic private passenger
Antique - 25 or more yrs old
Classic - 10 - 24 yrs old
Limited Graded Death Benefit Period for GIFE
The limited graded death benefit period applies during the first two policy years.
If death is due to natural causes in the first two policy years, the insurance amount payable will be the return of premium and policy contract interest. Policy contract interest is added to the premium from the premium due date to the date of death at an annual effective rate specified in the Insurance Amount section on page 3 of the policy contract. The policy contract interest rate is currently 5% and is subject to change.
If a death is ruled accidental in the first two policy years, the full death benefit is paid, subject to exclusions listed in the policy contract. Death caused or contributed to by any of the accidental death exclusions won’t be payable as an Accidental Death but will be treated as Death by Natural Causes. Refer to State Farm® Answers for a list of the exclusions. These exclusions may vary by state.
If the death is a result of suicide within the first two policy years (or in the time-period provided by law in your state if shorter than two years), the death benefit will be the return of premiums paid without policy contract interest. All State Farm policies include this provision which is referred to as the “Limited Death Benefit” in most policies but is referred to as the “Suicide Exclusion” in GIFE.
Beginning of the third policy year, the policy owner will receive the full insurance amount regardless of the cause of death.