All categories

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.

You might be interested in

Lara Technologies is considering a cash outlay of $227,000 for the purchase of land, which it could lease out for $36,150 per ye

HACTEHA [7]

Answer:

the opportunity cost of the land purchase is $34,050

Explanation:

The computation of the opportunity cost of the land purchase is shown below;

= Cash outlay × return percentage

= $227,000 × 15%

= $34,050

Hence the opportunity cost of the land purchase is $34,050

We simply multiplied the cash outlay with the return percentage so the same would be calculated

6 0

2 years ago

Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylen

Karo-lina-s [1.5K]

Answer:

Using related diversification to achieve value by integrating vertically in order to acquire market power.

Explanation:

First, let's understand what are the stages of a supply chain, they are:

commodities
manufacturing
distribution
retail

In this regard, we can see that Shaw Industries controls more than one stage of its supply, commodities and manufacturing chain, which characterizes vertical integration.

Therefore, the most appropriate alternative to the question is that the company gains a greater market gain with this strategy because it increases the management and quality control, by ensuring that the inputs and processes are in accordance with its standards, which guarantees a product of higher quality and consequently better positioned on the market.

6 0

3 years ago

H and r budget challenge buckle up week quiz frank's electric bill has a cycle day of the 3rd and a due date 8 days later with a

PSYCHO15rus [73]

His payment is late and he will be assessed a late fee

8 0

3 years ago

Read 2 more answers

Strategic leaders use internal and external analyses in tandem to create a customized fit between a company's ______.

sweet-ann [11.9K]

Strategic leaders use internal and external analyses in tandem to create a customized fit between a company's internal resources and external environment.

<h3>Who are Strategic leaders?</h3>

The center of attention for organizational learning is on strategic leaders. They encourage an environment of inquiry and look for lessons in both successful and bad results.

Organizational structure, resource allocation, and strategic vision are all functions of strategic leaders. Strategic leaders deal with extremely complex challenges in an uncertain environment while also being influenced by external events and organizations.

Process simplification, increased strategic productivity, and innovation are all benefits of strategic leadership. Employees may be independent, productive, and push for new ideas under this leadership. Programs for incentives and rewards are essential for strategic leaders. They support staff members in achieving their strategic objectives.

To know more about strategic leaders refer to:brainly.com/question/15171930

#SPJ4

8 0

2 years ago

Income Statement, Direct and Indirect Cost Concepts, Service Company

Fofino [41]

Answer:

Send It Packing

1. The cost of materials used for packaging and mailing services during May is $11,550.

2. The prime cost for May is $51,170 (direct materials and labor and direct overhead)

3. The conversion cost for May is $43,700 (labor and overhead)

4. The total cost of services for May is $55,250

5. Income Statement for the month of May

Service Revenues $102,100

Cost of services:

Cost of materials used $11,550

Cost direct labor used 25,570

Overhead incurred 18,130 $55,250

Gross profit $46,850

Franchise fee $5,105

Advertising expense 2,750

Administrative costs 3,650 $11,505

Net income $35,345

6. The overhead incurred has $14,050 direct and $4,080 indirect costs. The direct cost was paid to the courier companies for delivery services. The indirect costs were incurred for rent, utilities, and insurance.

Explanation:

a) Data and Calculations:

Beginning inventory of materials = $1,050

Purchases of materials = $11,450

Materials available for use = $12,500

Ending inventory of materials = $950

Cost of materials used = $11,550

Cost direct labor used = 25,570

Overhead incurred = 18,130

Franchise fee (5% of $102,100) 5,105

Advertising expense = 2,750

Administrative costs 3,650

8 0

3 years ago