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What date did customers travel insurance policies attached to their flex account start?
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What kind of investment is a savings account with an insurance company?
Insurance companies provide only life insurance facilities to its customers. They do not provide savings accounts facilities to customers. Only banks can provide saving accounts to customers and not insurance companies.
When a customers account is paid the customers account is?
"credited".
Is a high yield money market account covered by the FDIC insurance?
Yes, a high yield money market account covered by the FDIC insurance. You can read about the rules and policies at www.capitalone.com/directbanking/money-market-accounts/ -
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What are the Marketing Functions in an Insurance Company?
To bring in new business into the company. To retain and service old account To create awareness on insurance product to prospect To educate prospect/client on the right insurance policies to be taken
How long is student travel insurance valid for?
Student travel insurance policies and rates vary by company and individual. It is suggested to contact a representative of the company or log into any online account you may have.
What types of services do Century21 Insurance offer?
Century 21 insurance offers services in relation to automotive insurance needs in 48 states and DC. they also offer homeowner and umbrella policies as well as online account management and mobile applications.
Is prepaid insurance account a nominal account?
No, it is a real/permanent account. Insurance expense is a nominal account.
What is the proper adjusting entry at April 30 the end of the fiscal year based on a prepaid insurance account balance before adjustment 16000 and unexpired amounts per analysis of policies 6000?
debit insurance expense 10000 credit prepaid insurance 10000
The entry to close the appropriate insurance account at the end of the accounting period is what?
Insurance account is expense account and expense account is closed in income summary account. Insurance account should be credited where as income summary account should be debited
How many different types of life insurance are there?
There are two main categories of life insurance: whole life and term insurance. Whole life insurance is an insurance policy combined with an investment account and has several variations such as universal life and variable life. Term life insurance has no investment account, but provides a set sum of money should one die within the specified term of coverage. Variations of term life insurance include annuable-renewable and level-term policies.
What happens to whole life policy if cancel before it is paid up?
Whole life insurance policies, unlike term insurance policies, accumulate cash value, like a savings account, as you pay your premiums, so that even if you cancel such a policy before it is fully paid up, it still has some value that can be cashed in.
