Mortality is calculated by using a large risk pool of
Mortality is calculated by using a large risk pool of
a) hobbies and time
b) people and time
c) family history and geographical area
d) insurance companies and agents
Answer: b) people and time
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