Which of the following does Coordination of Benefits allow?

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Which of the following does Coordination of Benefits allow?

A) Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid
B) Allows both a group health plan and individual health plan to coordinate their benefit payments
C) Allows the deductible to be spread out between all the health providers
D) Allows each health provider to pay 100% of the claim

Answer: A) Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid

Health and Accident 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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James is the insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount?

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