When discussing coinsurance clauses, a number such as 70/30 would mean what?

a. The insurer will begin full payment of costs after the insured has paid an amount that can vary depending on circumstances.

b. The insured pays 70% of total costs and the insurer pays the other 30%, to a set amount.

c. The insurer will begin full payment of costs after the insured has paid a certain set amount.

d. The insurer pays 70% of total costs and the insured pays the other 30%, to a set amount.

Answer: B

Insurance

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