When an insurance company accepts an applicant's offer or application for insurance, acceptance typically occurs in the formation of an insurance contract.
The applicant obtains an application form, completes it, and submits it to the insurance company for evaluation before creating an insurance contract.
Who might get dividends from a mutual insurance company?
You will benefit from the company's success as a mutual owner. On the off chance that the organization meets or surpasses its monetary objectives for the year, it will frequently get a piece of its benefits once again to its policyholders as profits, like how a stock organization delivers profits to its investors.
What are the four things an insurance contract must have?
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