Match the Following Terms with Their Definitions

question 39

Multiple Choice

Match the following terms with their definitions.
-Coinsurance

• A)Continual premium payments
• B)Used when insured cancels
• C)Blame doesn't matter in payoff
• D)Periodic payment
• E)Not optional
• F)Combination of term and whole life
• G)Result of a nonforfeiture value
• H)Policyholder
• I)Amount of insurance stated on the policy
• J)Value of policy when terminated
• K)Builds no cash value
• L)Options when an insurance policy is terminated
• M)One to receive face value of life insurance
• N)Payment to insured from a loss
• O)80%
• P)Pay for repairs to one's auto
• Q)Amount insured pays
• R)The insurance company
• S)Fire, theft

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Definitions:

C Corporation

A legal structure for a corporation where the owners or shareholders are taxed separately from the entity, distinguishing the company as an independent legal entity under U.S. federal income tax law.

Demise of Owners

The situation where the owner(s) of a business pass away, creating potential uncertainty or transition phases for the business operation and ownership.

Sole Proprietorship

A company that is solely owned and run by one person, where the law does not differentiate between the proprietor and the business itself.

Legal Filing

The process of submitting documents to a court or official body to comply with legal requirements in a lawsuit or other legal proceedings.