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

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

what must happen in order for an insurance company to make a payout? check all that apply. the insurance company must verify the claim. the insured party must file a claim. the insured party must purchase property. the insurance policy must be in place. the 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, a valid policy must exist. The insured must file a claim for a covered - loss which the company then verifies. Purchasing property is not a requirement for a payout.