What is the fundamental purpose of a coinsurance clause?
Answer to relevant QuestionsWhat is the purpose of other-insurance provisions?Kelly, age 35, is a single parent and has a one-year-old son. She earns $45,000 annually as a marketing analyst. Her employer provides group life insurance in the amount of twice the employee’s salary. Kelly also ...a. The needs approach is widely used for determining the amount of life insurance to purchase. Describe the following needs for a typical family head:1. Cash needs2. Income needs3. Special needsb. Explain the capital ...Richard, age 35, owns an ordinary life insurance policy in the amount of $250,000. The policy is a participating policy that pays dividends. Richard has a number of financial goals and objectives. For each of the following ...A life insurance policy that pays dividends is known as a participating policy.a. Identify the sources from which dividends can be paid.b. List the various dividend options in a typical life insurance policy.c. Can an ...
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