What is the primary feature of a viatical settlement?

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What is the primary feature of a viatical settlement?

a) No interest on policy loans
b) Reduced death benefit prepayment
c) Longer contestable period
d) Lower premiums

Answer: b) Reduced death benefit prepayment

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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