The annual premium of Susie's insurance company apply as a result of accident is $255 for an year. This is because the monthly insurance payment has been increased by $21.25.
What is Health insurance?
Health insurance or the medical insurance is an insurance which covers the whole or a part of the risk of a person which is incurring the medical expenses. Depending upon the health insurance plan, the risk is shared among many individuals.
Main body:
The increase in monthly insurance payment = $21.25
So, the annual increase in the premium amount paid by Susie will be:
Monthly increase in insurance payment × 12
(As there are 12 months in an year)
Annual increase in premium amount = $21.25 × 12
Annual increase in premium amount = $255
Therefore, the annual increase in the amount of premium paid by Susie for health insurance is $225.
Learn more about Health insurance here:
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