Which type of multiple protection policy pays on the death of the last person?

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Which type of multiple protection policy pays on the death of the last person?

a) Joint life policy
b) Survivorship life policy
c) Dual life policy
d) Multiple life policy

Answer: b) Survivorship life policy

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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The voluntary relinquishment of a legal right is called
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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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