Types of Insurance
This type of insurance covers employees who are injured on the job.
What is workers’ compensation?
This type of insurance protects real and personal property owned by individuals or businesses.
What is property insurance?
Term life pays only if this happens during the policy period.
What is the insured’s death?
These three defenses are the most common ways insurers avoid paying claims.
What are representation, concealment, and warranties?
This type of insurance covers physical damage, not lost income.
What is property insurance?
This term means the insurer takes over the insured’s right to sue a third party.
What is subrogation?
Whole‑life insurance can allow the insured to do this before death.
What is borrow or collect cash?
An insurer has grounds to avoid the contract if the applicant makes
What is a false representation?
Life insurance pays money to these people when you die.
What are beneficiaries?
This is the transfer of a property right to another person.
What is assignment?
The insured may transfer the policy’s rights through this legal act.
What is assignment?
A breach of warranty allows the insurer to do this to the contract.
What is avoid or void it?
Doctors, lawyers, and accountants buy this type of liability insurance.
What is malpractice insurance?
This insurance covers legal liabilities for homeowners, drivers, professionals, and businesses.
What is liability insurance?
This type of life insurance lasts only for a set number of years.
What is term life insurance?
Concealment is the failure to volunteer these types of facts.
What are material facts?
This insurance protects you if someone sues you for injury or damage.
What is personal liability insurance?
To buy property insurance, you must have this type of real and substantial interest.
What is insurable interest?
This type of policy includes a savings or cash‑value component.
What is whole‑life insurance?
When an insurer’s conduct prevents it from raising a defense, this legal doctrine applies.
What is estoppel?