Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true?

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Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true?

a) The policy automatically converts to whole life after the 10-year period
b) The face amount will remain constant and the premium will increase over the 10-year period
c) The premium will remain constant and the face amount will increase over the 10-year period
d) The face amount and premium will remain constant over the 10-year period

Answer: d) The face amount and premium will remain constant over the 10-year period

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

In insurance,

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Clinical Laboratory Improvement Act (CLIA) legislation established __________ for all laboratory testing to ensure the accuracy, reliability, and timeliness of patient test results regardless of where the test was performed.

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