Question

Paul is the insured and policyowner. Paul named Danny and Kayla as co-primary beneficiaries of Paul's $100,000 policy. Danny is to receive 70% and Kayla is to receive 30%, therefore Danny gets $________ and Kayla gets $______ when Paul dies.

Answer 1

Danny gets $70,000

Kayla gets $30,000

Step-by-step explanation:

Total amount to be shared between Danny and Kayla = $100,000

Danny receives 70%

Let us calculate 70% of $100,000 to get the amount that Danny receives;

Danny's share = 70/100 × 100,000 = $70,000

Therefore Danny receives $70,000.

Kayla receives 30%

Kayla's share = 30/100 × 100,000 = $30,000

Kayla's amount = $30,000

alternatively, Kayla's share can be calculated by subtracting Danny's share from the total amount;

100,000 - 70,000 = $30,000

Answer 2

C. $70,000/$30,000

Step-by-step explanation:

Given that

Danny is to receive 70%

Kayle is to receive 30 %

Total amount of Paul Money to be share = 100000.

Therefore,

Amount to be received by Danny

= 100,000 × 70%

= 100,000 × 0.7

= $70,000

Amount to be received by Kayla

= 100,000 × 30%

= 100,000 × 0.3

= $30,000

In situations where there is more than one beneficiary listed by the benefactor, the percentage each gets when the benefactor dies is specified and thus money recieved by each beneficiary is based on that pre agreed percentage.