Which Of The Following Are The Parties To An Insurance Agency Agreement

STOLI (Stranger-Originated Life Insurance) transactions are life insurance contracts in which investors convince individuals (usually the elderly) to purchase new life insurance, with investors being designated as beneficiaries. This is sometimes referred to as investor-origin life insurance (IOLI). These agreements are used to circumvent the laws on the insurable interests of the state. Since the Agent and the Company intend to ensure the stability of their relationship, this Agreement will remain in effect for a period of at least ___ consecutive years, each beginning again on January 1, unless terminated in accordance with the terms of this Agreement. The elements that have just been discussed must be included in each contract for it to be legally enforceable. In addition, insurance contracts are characterized by distinctive features that distinguish them from many other legally binding agreements. Some of these features are unique to insurance contracts. Let`s review these distinctions…