How much would the insured recover in each of these situations? (Ignore any dollar or time deductibles.)
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Question:
How much would the insured recover in each of these situations? (Ignore any dollar or time deductibles.)
a)Coverage: Business income coverage with 120-day Maximum Period of Indemnity option, $100,000 limit.
Loss:
Month 1 - $40,000
Month 2 - $30,000
Month 3 - $20,000
Month 4 - $14,000
Month 5 - back in business
b)Coverage: Business income coverage with Monthly Limit of Indemnity option; 1/6 is the faction shown in the declarations, $120,000 limit.
Loss:
Month 1 - $40,000
Month 2 - $30,000
Month 3 - $20,000
Month 4 - $14,000
Month 5 - back in business
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
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