Text An insured dies in a fire at his/her home caused by careless smoking. What action will the insurer of the dwelling take? Deny the loss to building and contents as the insured caused the fire. Pay the loss to the building and contents to the insured's estate. Pay the building and contents loss into Court in trust. Be unable to pay the property loss as the named insured is no longer available to sign the proof of loss.
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- Mario files for bankruptcy. He owns one car worth $2,000.00. He will O not have to list it as an asset on his petition O keep the car O keep it if and only if he files a chapter 13 bankruptcy O give the title to the trusteeExplain the circumstances under which you feel a consumer bankruptcy is appropriate, and when the ability to have a debt eliminated should be restricted.Bryson is the owner of a deferred annuity. His son, Calvin, is the annuitant, and his daughter, Isabelle, is the beneficiary. Which parties to this annuity can select the type and timing of annuitized income payments?(Search Chapter 3) a. Bryson b. Calvin c. Isabelle d. Bryson, Calvin, or Isabelle
- Crystal hires a contractor to build a new deck in her yard. When the contractor finishes the work, Crystal refuses to make the last payment of $1,000, claiming some of the work is poor. What remedy would allow the contractor to collect by threatening foreclosure?Which of the following policy provisions specifies that, it an insured tals to pay a renewal premium within the time granted but the insurer subsequently occ may be restored? OA Grace Period OB. OC O. D. Reinatatement Time of Payment of Chirns Entire ContractThe purpose of the Insuring clause in an Accident and Health policy is to: O A specify the schedule and method of premium payments specify the conditions under which benefits are payable indicate the responsibilities of the insured after a covered loss satisfy the requirements of the uniform policy provision code OB. O C SOD.
- Please assistWhy does the agent have personal liability when the principal is undisclosed?The settlement options provision may provide all of the following except: A) Payment of the proceeds for the life of the insured B) Payment of the proceeds over a fixed period C) Payments of the proceeds in fixed amounts until exhausted Proceeds held by the company, with interest payable to the beneficiary on request
- Which one of the following is NOT a correct pairing of a trust provision with its characteristics? A) Spendthrift provision: a clause in a trust that prevents a beneficiary from withdrawing more than the greater of $5,000 or 5% of the corpus.quizlet B) Crummey provision: a trust clause that provides the beneficiary with a limited duration right to demand payment of contributions to a trust each year up to the annual gift tax exclusion from the trustee. C) Discretionary provision: a trust clause that allows the trustee to use his or her sole judgment in determining how much of the trust income and principal will be paid to or on behalf of a beneficiary. ?Buyer Javier makes a formal offer to Seller Joy: $250,000 and the appliances stay. Joy counters: $250,000, no appliances. Joy then reconsiders and accepts the first offer. Is Javier is obligated to buy the home? Why or why not? Yes, because Javier never formally withdrew the offer. No, because once Javier's offer is countered, it is considered rejected and is dead. Yes, because Joy's counter was for the same amount of money as Javier's initial offer. No. because a buyer can withdraw from a contract for any reason without penalty.Zach had surgery, which was his third claim of the year. He had a bill of $5000.Considering the prior visits, what is Zach’s portion of this bill and what is theresponsibility of the insurance carrier?