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Unit One - Insurance Terms and Concepts

Objectives

In Unit One the learner will begin to see the insurance policy as assuming the risk of the insured in exchange for premium. This unit also addresses the various contractual aspects of the insurance policy. The student will learn basic insurance terms and concepts that are the foundation for an understanding of all types of insurance.


At the conclusion of this unit learners will be able to:

• View the insurance policy as a contract


• Define and discuss common insurance terms


• Understand the concept of assuming risk in exchange for premium dollars