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Replacement with Materials of "Like Kind and Quality"

As we all know, insurance seminars and articles can be a little on the "dry" side. So, every now and then, when you select an article from the Research Library, you may get the unexpected. We want the Virtual University to be more than some stale, stoic repository of insurance technical...hey, let's have a little fun! Now, on with the topic at hand...

Earl's barn burned down and his wife, Mavis, called the insurance company. Mavis spoke to the insurance agent and said, "We had that barn insured for fifty thousand and I want my money."

The agent replied, "Whoa there, just a minute. Insurance doesn't work quite like that. An adjuster will assess the value of what was insured and then we'll provide you with another barn, just like the original one."

There was a long pause, and then Mavis replied, "If that's how it works, I want to cancel the life insurance policy on Earl."