During the accumulation period, who can surrender an annuity?
During the accumulation period, who can surrender an annuity?
a) Payor
b) Annuitant
c) Beneficiary
d) Policyowner
Answer: d) Policyowner
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