Skyler's $500,000 life insurance policy has a terminal illness (TI) benefit clause, which provides a benefit of 25% of the face amount up to a maximum of $100,000. Skyler has been diagnosed with a terminal illness. The doctors gave him between 12 and 18 months to live. Skyler submitted a claim for the TI benefit and it was approved. When Skyler dies, how much will his beneficiary receive?

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In this scenario Skylers life insurance policy has a terminal illnes... View the full answer