MANAGEMENT

BUISENESS MANAGEMENT

INSURANCE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

You have insured your Italian restaurant for $2 million with a deductible of $1000. You have $30, 000 worth of damages from a recent storm. How much will you get from the insurance company?

A	$31, 000
B	$30, 000
C	$29, 000
D	$1, 000

Explanation:

Detailed explanation-1: -Human life value can be defined as the present value of the family’s share of the deceased breadwinner’s future earnings. Additional expenses may be incurred, such as funeral expenses, uninsured medical bills, and estate settlement costs.

Detailed explanation-2: -Which of the following are true of ordinary whole-life insurance policies? Ordinary whole life insurance has some value as an investment. Ordinary whole life insurance covers the insured for the stated term of the policy. Payment on this type of policy is only made for a certain number of years.

Detailed explanation-3: -Both whole life and universal life are forms of permanent life insurance and provide a cash value savings component that policyholders may borrow from or cash out. Whole life offers fixed premiums, universal premiums, may start out lower, but they are flexible and may increase as you age.

There is 1 question to complete.