Question

In a life insurance contract, an insurance company's promise to pay stated benefits is called the:

a. Insuring clause
b. Consideration clause
c. Entire contract
d. Owner's rights

Answer 1

In a life insurance contract, the insurance company's promise to pay stated benefits is called the insuring clause.

Step-by-step explanation:

In a life insurance contract, the insurance company's promise to pay stated benefits is called the insuring clause. The insuring clause is the essential part of the insurance policy that outlines the company's obligation to provide the specified benefits to the insured party in the event of an eligible claim. It is a legally binding agreement that establishes the terms and conditions of the insurance coverage.