Please answer each question in detail and in bullet point 

1. When Juan Gomez purchased an insurance policy on his life, he named his wife Lois as the beneficiary. Juan and Lois divorced several years later, but Juan did not change the policy beneficiary designation. After Juan's death, Lois filed a claim for the policy proceeds. Can Lois success in the claim?

2. Mary is Hepatitis B carrier and is applying a hospital policy. In the application form, there is a question "Have you ever had or been treated for or been told you had...hepatitis B carrier..." and Mary replied in the negative. After the hospital policy been issued, she was hospitalized due to oesophageal carcinoma. Do you believe that an intentional misrepresentation by an applicant for insurance should permit the insurer to deny coverage for a loss even if the misrepresented fact had no relationship to the loss? Why?

3. Explain the meaning of an insurable interest. Why is an insurable interest required in every insurance contract?

4. Image, Inc, is a small company that contracts with other companies to conduct seminars for their management staffs. Sarah works for Image, Inc., as its primary seminar leader. Because Sarah' expertise and teaching skills are essential to the success of the business, Can Image, Inc, apply for disability income coverage on Sarah?

5. Explain reinsurance. Why is reinsurance necessary?

6.A drunk driver ran a red light and smashed into Kristen' car. The cost to repair the car is $8,000. She has collision insurance on her car with a $500 deductible.

a. Explain how the principle of subrogation would be relevant in the above case.

b. Explain how subrogation supports the principle of indemnity.

7. Explain the reasons for people purchase life insurance and annuities.

8. Describe the distinguishing characteristics of whole-life insurance and Annuities.

9. Life insurance policies have different characteristics. For each of the following, identify the life insurance policy that meets the descriptions:

a. A policy where the face amount of insurance increases if the investment results are favorable

b. A policy that can be used to insure the human life value of an individual, age. 35, at the lowest possible annual premium

c. A policy that permits the policyholder to determine how the premiums are to be invested

d. A policy that allows cash withdrawals for a down payment on a home or payment of college tuition

10. Describe the basic characteristics of individual medical insurance. Explain the reasons for deductibles and coinsurance in medical expense policies.

11. Briefly explain the following disability-income insurance provisions:

a. Residual disability

b. Benefit period c. Elimination period

d. Waiver of premium 3.

12) What is group life and health insurance?

Explain some possible reasons that companies would like to purchase group life and health insurance.