K age 45, and his wife, age 43, have three children. They purchase a Family Policy that covers K's wife to age 65. All of these situations will pay a death benefit EXCEPT:
Question
K age 45, and his wife, age 43, have three children. They purchase a Family Policy that covers K's wife to age 65. All of these situations will pay a death benefit EXCEPT:
Solution
To address the question, we need to identify the key components and analyze the situation regarding the Family Policy and its coverage.
Step 1: Define the Problem
The problem requires identifying which situation will not pay a death benefit under the Family Policy that covers K's wife until age 65.
Step 2: Break Down the Problem
- Coverage Details: The policy covers K's wife until age 65.
- Situations to Consider:
- Death of K's wife before age 65.
- Death of K's wife after age 65.
- Death of K.
- Death of the children.
Step 3: Apply Relevant Concepts
- Insurance Coverage: Typically, a Family Policy may cover the primary insured and sometimes their spouse and children, but specific terms can vary.
- Age Limit: The policy explicitly covers K's wife until age 65.
Step 4: Analysis, Verify and Summarize
- Death of K's wife before age 65: Covered, as she is within the age limit.
- Death of K's wife after age 65: Not covered, as she is beyond the age limit.
- Death of K: Coverage depends on the policy terms, but not explicitly mentioned.
- Death of the children: Coverage depends on the policy terms, but not explicitly mentioned.
Final Answer
The situation that will not pay a death benefit is the death of K's wife after age 65, as the policy only covers her until that age.
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