Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the insured. Which one (1) of the following benefits CANNOT be changed? OA) Death and Funeral Benefits. ● B) Income Replacement Benefit. OC) Caregiver Benefit for Catastrophic Injuries. OD) Disability Benefit after Age 65.

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The Replacement Cost clause in a Comprehensive Condominium Unit Owners insurance policy stipulates the basis of
payment of a claim in the event of a loss to Improvements and Betterments. Which one (1) of the following
conditions does NOT apply?
OA) Any increased cost of repair or replacement due to construction by-laws will not be paid.
OB) The insurer will pay the full replacement cost of the damage without deduction for depreciation provided
repair or replacement is made with materials of similar quality within a reasonable time after damage
occurs.
OC) The insurer will pay nothing until the property has been repaired or replaced within a stipulated period.
OD) The insurer will pay only Actual Cash Value if you decide not to repair or replace the damaged property.
Transcribed Image Text:The Replacement Cost clause in a Comprehensive Condominium Unit Owners insurance policy stipulates the basis of payment of a claim in the event of a loss to Improvements and Betterments. Which one (1) of the following conditions does NOT apply? OA) Any increased cost of repair or replacement due to construction by-laws will not be paid. OB) The insurer will pay the full replacement cost of the damage without deduction for depreciation provided repair or replacement is made with materials of similar quality within a reasonable time after damage occurs. OC) The insurer will pay nothing until the property has been repaired or replaced within a stipulated period. OD) The insurer will pay only Actual Cash Value if you decide not to repair or replace the damaged property.
Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the
insured. Which one (1) of the following benefits CANNOT be changed?
OA) Death and Funeral Benefits.
B) Income Replacement Benefit.
OC) Caregiver Benefit for Catastrophic Injuries.
OD) Disability Benefit after Age 65.
Transcribed Image Text:Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the insured. Which one (1) of the following benefits CANNOT be changed? OA) Death and Funeral Benefits. B) Income Replacement Benefit. OC) Caregiver Benefit for Catastrophic Injuries. OD) Disability Benefit after Age 65.
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