What is the definition of premium?
  • premium
  • the amount paid for an insurance policy
  • a pool of funds
  • The insurance company finds that a homeowner intentionally caused damage.
If two people are invited to invest and become partners in a business, the business owners will then___ the risk
  • Share
  • medical costs can be extremely high, and insurance is more affordable than paying out-of-pocket for a hospital stay.
  • protection
  • premium
Most people prefer to pay health insurance premiums rather than pay out-of-pocket for medical expenses because
  • a pool of funds
  • medical costs can be extremely high, and insurance is more affordable than paying out-of-pocket for a hospital stay.
  • The insurance company finds that a homeowner intentionally caused damage.
  • Share
The basic purpose of insurance is to provide
  • protection
  • a pool of funds
  • the amount paid for an insurance policy
  • premium
Maria's family has a health insurance plan. Her mother has $350 deducted from her paychecks each month.When Maria visited the doctor, her mother paid a $25 fee. The insurance company covered the rest of the cost of the visit.When Maria's mother went to the hospital, her family was responsible for paying the first $1,000 of the bill. After this payment, the insurance company covered the rest of the costs.Read the passage about a family health insurance plan.What is the $25 fee Maria's mother paid when Maria visited the doctor?
  • protection
  • Share
  • premium
  • co-payment
Under which circumstance would someone need disability insurance?
  • A person was in a car accident and cannot work for several months.
  • The insurance company finds that a homeowner intentionally caused damage.
  • Premium
  • co-payment
Which is always a cost when buying insurance?
  • the amount paid for an insurance policy
  • protection
  • premium
  • a pool of funds
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