The year of cessation must be identified in policy illustrations if policy coverage ends before this age.
The year of cessation must be identified in policy illustrations if policy coverage ends before this age.
a. 90
b. 100
c. 75
d. 95
Answer: B
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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