INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 176

Essay

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-George and Nancy had a $30,000 repair bill on their home after the tornado went through town.Their policy contained the usual 80% co-insurance clause.Their home's replacement value was $150,000;their policy coverage was $110,000 with a $250 deductible.
a.
How much insurance should they have carried to meet the coinsurance obligation?
b.
What percentage of this loss will the insurance company pay?
c.
How much of the loss will George and Nancy have to absorb? (Show all work. )

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Definitions:

Respiratory Distress Syndrome

A medical condition often seen in premature infants, characterized by difficulty in breathing due to insufficient surfactant in the lungs.

Braxton-Hicks Contractions

Irregular, often painless contractions of the uterus occurring during pregnancy, sometimes called "practice contractions" for labor.

Delivery Process

The series of events that lead to the birth of a baby, encompassing the stages of labor, birthing, and immediate postnatal care.

False Labor

Contractions that may be mistaken for the onset of labor but do not lead to birth and are often less regular and less intense.