an application for health insurance was submitted on may 1 without a premium payment. the underwriter ordered a medical exam, wh
ich was completed on may 15. the company issued and mailed the policy to the agent on may 30. the agent delivered the policy and collected the first premium, along with the statement of good health, on june 3. coverage became effective on:
The coverage became effective on 3rd June on the day collection of first premium .The start of the time frame that the subject(s) of the record group, collection, or archive materials cover.
<h3>How Does Health Insurance Work?</h3>
Simply put, health insurance is a means of financing your medical care. When you are ill or wounded, your health insurance prevents you from having to pay the full cost of medical treatments. It functions similarly to how your house or auto insurance does: either you or your employer choose a plan and agrees to pay a predetermined rate, or premium, each month. Your health insurance consents to cover a portion of your covered medical expenses in exchange.
B) channel funds directly from lenders to borrowers.
Explanation:
The complete financial system is a means by which money is transferred from savers to borrowers. The financial system is made up of banks, insurance companies, financial markets, and other financial institutions that allow the exchange of money.
Financial markets are the only type of institution that allows the exchange of money from lenders to borrowers without third parties being involved.
Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.
