Describe a typical coinsurance clause in an individual or group medical expense insurance policy.
Answer to relevant QuestionsExplain the meaning of primary insurance and excess insurance.a. What is the meaning of "named insured"?b. Can other parties be insured under a policy even though they are not specifically named? Explain your answer.Richard, age 35, is married and has two children, ages 2 and 5. He is considering the purchase of additional life insurance. He has the following financial goals and objectives:■ Pay off the mortgage on his home, which has ...a. What is a variable universal life insurance policy?b. How does variable universal life insurance differ from a typical universal life insurance policy?c. Identify the various expense charges that policyholders must pay ...a. Explain the requirements for reinstating a lapsed life insurance policy.b. What are the advantages and disadvantages of reinstating a lapsed life insurance policy?
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