answer tru or false to the next questions: 1.Bailee’s customer policy is one that covers the...
answer tru or false to the next questions:
1.Bailee’s customer policy is one that covers the loss or damage to property of customers regardless of a bailee’s legal liability?
2. Cash surrender value is defined as an amount payable to the owner of a cash-value life insurance policy if he or she decides the insurance is no longer wanted.
Homework Answers
1) Answer - True
Bailee is considered as the person who has possession of someone's property temporarily. Bailee’s customer policy is an insurance policy that covers damage on property of bailor.
2) Answer - True
Cash surrender value is the amount paid by the policyholder to the insurance company when they want to cancel their insurance policy. It is also known as the surrender value.
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