In a defined contribution plan,

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In a defined contribution plan,

A. The benefit is known and the contribution is unknown
B. The contribution and the benefit are unknown
C. The contribution and the benefit are known
D. The contribution is known and the benefit is unknown

Answer: D. The contribution is known and the benefit is unknown

Medical Plans

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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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Hannah is six months pregnant when she switches jobs. Which law ensures that Hannah's "pre-existing condition" will be covered under her new health insurance plan?

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Life insurance policies will normally pay for losses arising from
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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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What documentation grants express authority to an agent?

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