What type of insurance would be used for a Return of Premium rider?
What type of insurance would be used for a Return of Premium rider?
a) Level Term
b) Decreasing Term
c) Annually Renewable Term
d) Increasing Term
Answer: d) Increasing Term
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