An is an amount of any loss that is to be paid by the insur

A(n) _____ is an amount of any loss that is to be paid by the insured and can be a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid.

loan value

deductible

annuity

cash surrender value

Solution

A(n) _annuity____ is an amount of any loss that is to be paid by the insured and can be a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid.