An important distinction between valid insurance contracts and wagering contracts is that:
A) insurance contracts create a new risk that did not previously exist, while wagering contracts don't.
B) wagering contracts are not contrary to public policy, while insurance contracts are.
C) insurance contracts transfer existing risks, while wagering contracts create new ones.
D) unlike insurance contracts, wagering contracts are indemnity contracts.
Correct Answer:
Verified
Q1: In life insurance contracts, the required insurable
Q3: A term life insurance contract obligates the
Q4: A whole life policy develops a loan
Q5: A contestability clause bars the insurer from
Q6: Insurance companies need not wait until litigation
Q7: Each liability insurance provider has a duty
Q8: Those who have an insurable interest in
Q9: Under federal law, businesses that provide group
Q10: In an insurance contract, the payment of
Q11: Whole life insurance contracts:
A) require the insured
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents