If an applicant for a lief insurance policy and person to be insured by the policy are two different people, the underwriter would be concerned about

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If an applicant for a lief insurance policy and person to be insured by the policy are two different people, the underwriter would be concerned about

a. which individual will pay the premium
b. whether an insurable interest exists between the individuals
c. the gender of the applicant
d. the type of policy requested

Answer: b. whether an insurable interest exists between the individuals

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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