A broker is an agent who bargains and/or conducts negotiations for and on behalf of his or her principal as an intermediary between the principal and third persons in the acquisition of contractual rights. Such a broker normally receives a commission or brokerage fee for his or her services. While a broker's primary contractual duty is to procure prospects and negotiate with them on behalf of his or her principal, it is not uncommon for the broker to assume an advisory relationship to clients who are not knowledgeable in the types of contracts involved in the negotiations.
Kentucky Exclusive Agreement Between Employer and Broker to Secure Group Insurance
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How to fill out Exclusive Agreement Between Employer And Broker To Secure Group Insurance?
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FAQ
A Kentucky employment contract specifies the important details which define the working relationship between an employer and a new employee. The parties will decide whether the employment period is at-will and may be terminated at any time, or if the contract will be for a fixed term.
Beneficiary means the person whom the policyholder has appointed to receive the guaranteed death benefit of their life insurance policy. It is the person who is entitled to receive the benefits of the policy. A beneficiary can be anyone who has a financial interest in your life.
party claim is a claim filed by someone other than the policyholder or insurance company. If you're in a car accident that someone else causes, you can file a thirdparty claim with the other driver's insurance for your covered accidentrelated expenses.
1) An insurance policy is a contract between the insurer and the insured. 2) The insured is the person whose life is being covered against the risk under the policy. 3) The insurer is the insurance company that provides the insurance cover.
For an insurance policy, the first party is the person or business that purchases the insurance (the insured). The second party is the company providing the insurance (the insurer).
So, all life insurance policies have three people involved, three categories of people. Sometimes the categories overlap, as we'll talk about. But there are usually three people involved in policy: the insured, the owner, and a beneficiary.
The insurance relationship begins when the insurer accepts the insureds offer to purchase coverage, which is the effective date of the insurance policy. The insurance contract lays out the extent to which the parties allocate or transfer the contingent risk of loss to the insurer.
