The conversion period for converting a group policy to an individual policy is
The conversion period for converting a group policy to an individual policy is
a) 11 days
b) 21 days
c) 31 days
d) 41 days
Answer: c) 31 days
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