An insured purchased a 15-year level term life insurance policy with a face amount of $100,000. The policy contained an accidental death rider, offering a double indemnity benefit. The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. How much will the beneficiary receive from the policy?
An insured purchased a 15-year level term life insurance policy with a face amount of $100,000. The policy contained an accidental death rider, offering a double indemnity benefit. The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. How much will the beneficiary receive from the policy?
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 5DQ
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Benifecry policy probl
Transcribed Image Text:An insured purchased a 15-year level term life insurance policy with a face amount of
$100,000. The policy contained an accidental death rider, offering a double indemnity
benefit. The insured was severely injured in an auto accident, and after 10 weeks of
hospitalization, died from the injuries. How much will the beneficiary receive from the
policy?
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