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3 years ago

An insurance policy with a higher premium most likely has ...

Business

2 answers:

dimaraw [331]3 years ago

5 0

I believe the answer is: A. Lower deductible

In choosing insurance, the premium is the amount that you should pay to the insurance company in exhange for the coverage of their service. While the deductibles are the amount that you should pay each year before the insurance company start paying on your behalf.

Korolek [52]3 years ago

3 0

Option A is correct.

An insurance policy with a higher premium most likely has a lower deductible.

Further Explanation:

Insurance policy is taken for the future uncertainty that may arise during the whole life of the person. Insurance policy can be taken for things and people also. Health policy is used for personal health if, in future, a person has faced a severe disease possible or maybe a normal accident. For meeting this type of expense, the person is already preparing with the insurance policy and meet all the expenses immediately.

Justification for the correct and incorrect answer:

Lower deductible: This option is correct.

Deductible means the amount paid before making the insurance policy. The expenses incurred on the policy before payment of premium. The higher premium policy is taken in case a person suffering from a severe disease; in this case,a deductible is lower.

No liability limit: This option is incorrect.

The liability limit is the money that the insurance company will pay at the time of requirements. In some instances, there is a limit on the liability limit. But in the case of higher premiums,the insurance company will compensate for the whole amount.

Higher deductible: This option is incorrect.

Deductible means the amount paid before making the insurance policy. The expenses incurred on the policy before payment of premium. When the deductible is higher, the premium is lower. This statement is incorrect.

Lower liability limit: This option is incorrect.

The liability limit is the amount of money that the insurance company will pay at the time of requirements. In certain cases, there is a limit on the liability limit. But in case of higher premiums, the insurance company will compensate for the whole amount.

Learn more:

1. Learn more about insurance

brainly.com/question/7325538

2. Learn more about life insurance

brainly.com/question/2674013

3. Learn more about insurance rules

brainly.com/question/6075135

Answer details:

Grade: Middle School

Subject: Business

Chapter: Insurance policy

Keywords:an insurance policy, higher premium, most likely, havea lower deductible, no liability limit, the higher deductible, lower, future uncertainty, health policy, severe disease.

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Answer:

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Answer:

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Explanation:

The computation of the economic order quantity is shown below:

= $\sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

where,

Carrying cost is $80 × 40% = $32

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Now put these values to the above formula

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