Mila,who captains a commercial fishing boat,obtains a policy from North Coast Insurance Company,which agrees to pay $500,000 to Mila's beneficiary on Mila's death.This is

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The policy obtained by Mila is a life insurance policy, as it agrees to pay a sum of money upon Mila's death. Floater insurance typically covers movable property, major medical insurance provides coverage for medical expenses, and marine insurance covers risks associated with ships, boats, and cargo.

Mila,who Captains a Commercial Fishing Boat,obtains a Policy from North