Insurance obtained by a limited partnership on the life of the general partner would be:
A) double indemnity insurance, because both the limited partnership and the general partner are insured.
B) key-person insurance, because the general partner is a key person, contributing a great deal to making the business successful.
C) a co-insurance policy because both the limited partnership and the general partner are insured.
D) whole life or straight life insurance which builds a cash value.
Correct Answer:
Verified
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