A(n) ________ Is a Clause in an Insurance Policy That

question 19

Multiple Choice

A(n) ________ is a clause in an insurance policy that provides that insurance proceeds are payable only after the insured has paid a specified amount toward the damage or loss.

• A) incontestability clause
• B) coinsurance clause
• C) exclusions from coverage clause
• D) deductible clause

---

Definitions:

Long-Term Assets

Assets expected to provide economic benefits for more than one year, such as buildings, equipment, and vehicles.