Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Listed below are a number of statements relating to the death of two or more persons: 1. Where two or more people pass away, the
Listed below are a number of statements relating to the death of two or more persons: 1. Where two or more people pass away, the time and sequence of deaths may be important in order to establish who may be entitied to the insurance proceeds. 2. Joint life insurance policies insure more than one person and pay upon the death of both the frist or the seconid insured person. 3. If the joint insured persons die in an accident where it is not possible to prove who died first or last, the policy may state who is presumed to have died first. 4. The insurer may have no need to dispute that the insurance benefit is payable, since there is condusive evidence that the life insured has died. However, the insurer may have trouble determining who the benefciaties are. 5. If insurers have difficulty in determining who the beneficiaries are, a provision in provincial and territorial insurance legislation allows the insurer to pay the benefit into Court. 6. Payment of claims into the court does not release the insurer from liability. Which of the above statements are correct? Select one: a. 1,2,3&5 b. 3,4,5 \&.6 c. 1,2,3,4,5&6 d. 1,3,485
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started