In most states, long-term care policies have a minimum coverage period of:
In most states, long-term care policies have a minimum coverage period of:
a. 6 months
b. 12 months
c. 36 months
d. 5 years
Answer: b. 12 months
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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