Under federal law, if a member of a group policy terminates their membership in a group of 20 or more employees, they have the right to purchase a temporary plan covering them individually up to 18 months after they leave the place of employment, at a maximum premium of how much more than their previous premium?

a. 2%

b. 5%

c. 4%

d. 3%

Answer: A

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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?

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The voluntary relinquishment of a legal right is called
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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?

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