Question

The provision that states when both the insured and the beneficiary died in the same accident, it is presumed that the insured survived the beneficiary is called ________.

Answer 1

The provision that states when both the insured and the beneficiary died in the same accident is called common disaster clause. It is typically found in life insurance policies and helps determine the order in which beneficiaries receive the proceeds.

Step-by-step explanation:

The provision that states when both the insured and the beneficiary died in the same accident, it is presumed that the insured survived the beneficiary is called common disaster clause. This clause is typically found in life insurance policies and helps determine the order in which beneficiaries receive the proceeds. If both the insured and beneficiary died at the same time, the clause assumes that the insured outlived the beneficiary, ensuring a proper distribution of the insurance benefits.