what must happen in order for an insurance company to make a payout? check all that apply.\nthe insurance…

what must happen in order for an insurance company to make a payout? check all that apply.\nthe insurance company must verify the claim.\nthe insured party must file a claim.\nthe insured party must purchase property.\nthe insurance policy must be in place.\nthe insured party must experience a covered loss.

what must happen in order for an insurance company to make a payout? check all that apply.\nthe insurance company must verify the claim.\nthe insured party must file a claim.\nthe insured party must purchase property.\nthe insurance policy must be in place.\nthe insured party must experience a covered loss.

Answer

Answer:

  • The insurance company must verify the claim.
  • The insured party must file a claim.
  • The insurance policy must be in place.
  • The insured party must experience a covered loss.

Brief Explanations:

For an insurance payout, first, the policy must exist. Then, the insured files a claim for a loss covered by the policy, which the company verifies. Purchasing property is not a requirement for a payout.