Question

which of the following terms describes restoring the insured to the original condition prior to loss 1 point
reimburse
reinstate
indemnify
utmost good faith
clear selection
which of the following methods of calculating the amount of life insurance needed uses the insureds wages and years until retirement * 1 point
estate planning approach
the human life value approach
needs analysis approach
needs approach
which of the following people has insurable interest in doug * 1 point
a business partner
a creditor
a spouse

Explanation:

1. For the first question: Indemnify means restoring the insured to their financial state before a loss occurred, matching the definition provided.
2. For the second question: The human life value approach calculates life insurance by estimating the present value of the insured's future earnings, using wages and years until retirement.
3. For the third question: A spouse has a direct financial and personal stake in Doug's well-being, which constitutes insurable interest; business partners and creditors have limited or conditional insurable interest, but a spouse's is a clear, primary case.

Answer:

1. indemnify
2. The human life value approach
3. A spouse