Question

According to the common policy conditions for a commercial package policy, if the insured dies, the policy rights and duties

1) Transfer to a legal representative after court appointment
2) Die with the insured
3) Are suspended until probate is completed
4) Automatically transfer to a legal representative.

Answer 1

According to the common policy conditions for a commercial package policy, if the insured dies, the policy rights and duties automatically transfer to a legal representative.

Step-by-step explanation:

According to the common policy conditions for a commercial package policy, if the insured dies, the policy rights and duties automatically transfer to a legal representative. This means that the person appointed by the court to handle the deceased's affairs will be responsible for managing the policy. The legal representative will have the authority to make decisions regarding the policy and handle any claims or issues that arise.