Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies?

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Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies?

a) Waiver of Premium
b) Juvenile Waiver
c) Guaranteed Insurability
d) Payor benefit

Answer: d) Payor benefit

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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