Which of the Following Is True of Coinsurance

question 4

Multiple Choice

Which of the following is true of coinsurance?

• A)It is rarely found in property insurance policies.
• B)It allows the insured to pay an extra premium initially in exchange for a guaranteed option to buy more insurance at certain specified times later.
• C)It excuses the insured from paying premiums if he or she becomes disabled.
• D)It is a provision under which the insurer and the insured share costs,after the deductible is met,according to a specific formula.

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Definitions:

Canada

A country located in the northern part of North America, consisting of ten provinces and three territories, extending from the Atlantic to the Pacific Ocean.

Nuclear Family

A family group consisting of parents (usually a mother and father) and their children, living together as a single unit.

Post-World War II

The period following the end of World War II in 1945, marked by significant geopolitical, social, and economic changes worldwide.

Cyclical

Pertaining to events or processes that occur in a repeating pattern or cycle, often observed in economies and natural phenomena.