An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if

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An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if

a) the insured outlived the beneficiary
b) the beneficiary outlived the insured
c) no beneficiary was ever named
d) the insured and beneficiary died at the same time

Answer: a) the insured outlived the beneficiary

WA Life Insurance

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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?

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? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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