What is involved when a life insurance policy has been backdated?

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What is involved when a life insurance policy has been backdated?

a) Setting a policy's effective date prior to a preexisting condition
b) Redating a policy after it has been issued
c) Reinstating a lapsed policy
d) Making the policy effective on an earlier date than the present

Answer: d) Making the policy effective on an earlier date than the present

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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