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

If the CPI was 72.6 in 1979 and 144.5 in 1993, by what percentage did prices rise during the period 1979-1999?

Kaylis [27]

Answer:

99.035%

Explanation:

Data provided in the question:

CPI in 1979 = 72.6

CPI in 1993 = 144.5

Now,

The percentage by which prices rise during the period 1979-1999 will be calculated as :

= [ (CPI in 1993 - CPI in 1979 ) ÷ CPI in 1979 ] × 100%

= [ (144.5 - 72.6 ) ÷ 72.6 ] × 100%

= [ 71.9 ÷ 72.6 ] × 100%

= 99.035%

The percentage by which prices rise during the period 1979-1999 is 99.035%

4 0

4 years ago

Pugh Co. reported the following in its statement of stockholders' equity on January 1, 20X4:

Elan Coil [88]

Answer:

a) $550,000

Explanation:

Treasury stock transactions do not affect shares issued, because treasury shares are included in issued shares. The only event during the year affecting the total par value of common stock issued is the July 9 issuance of shares that were not issued before.

The stock split does not change total par of shares issued, because par is cut in half and the number of shares is doubled. Treasury shares are protected, meaning they are also doubled and have their par cut in half. The total par of issued common stock at year-end is $550,000:

$500,000 from January 1

Plus $50,000 from July 9 issuance: 10,000 × $5

Equals $550,000 total par of issued shares.

Source: https://www.brainscape.com/flashcards/dividends-7208677/packs/11475096

6 0

3 years ago

A photography dealer ordered 60 Model X cameras to be sold for $250 each, which represents a 20 percent markup over the dealer’s

Bas_tet [7]

Answer:

The correct answer is 13% of profits

Explanation:

A photography dealer ordered 60 Model X cameras, Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer’s initial cost

60 cameras - 6 cameras = 56 cameras sold.

We need to calculate the Cost of each camera

$250 each, which represents a 20 percent markup over the dealer’s initial cost for each camera.

That means that the cost is 20% + initial cost that is 100%= 120%

Rule of three

$250 ---------- 120%

? ---------- 100%

=($250 x 100) ÷ 120

= $25,000 ÷ 120

= $208.33 cost of each camera

The dealer pays for the 60 cameras:

=$208.33 x 60

= $12,500 was the total amount that the dealer paid for 60 cameras

Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer’s initial cost

= $208.33 x 50% = $104.17 returned for each camara

= $104.17 x 6 camaras returned

= $625.00 total returned

We going to calculate the real amount that the dealer paid after the devolution.

= $12,500 - $625.00

= $11,875 was real amount that the dealer paid for the camaras

The dealer sold for $250 each camera, he sold 54

$250 x 54 cameras = $13,500 sells

Now we going to calculate the utillity or gains

$13,500 sells - $11,875 invest

=$13,500- $11,875

= $1,625 total earns, gains, utility

What was the dealer’s approximate profit or loss as a percent of the dealer’s initial cost for the 60 cameras?

"$12,500 was the total amount that the dealer paid for 60 cameras"

Rule of three

$12,500 ------------ 100%

$1,625 -------------- ?

=(1,625 x 100) ÷ 12,500

= 162,500 ÷ 12,500

= 13% profit

The dealer’s approximate profit as a percent of the dealer’s initial cost for the 60 cameras is 13%

3 0

3 years ago

Trendy T's Corporation manufactures t- shirts, which is its only product. The standards for t -shirts are as follows: Standard d

EastWind [94]

Answer:

Option (D) is correct.

Explanation:

Given that,

Standard direct labor cost per hour, SR = $19 per hour

Standard direct labor hours per t-shirt = 0.4 hours

Actual direct labor hours, AH = 680

Actual output = 1,400 t-shirts

Standard hours for actual output, SH:

= Standard direct labor hours per t-shirt × T-shirts produced

= 0.4 hours × 1,400

= 560

Therefore,

Direct labor efficiency variance for the month:

= (SH - AH) × SR

= (560 - 680) × $19

= $2,280 Unfavorable

7 0

3 years ago

Which of the following statements correctly characterizes the elasticity of demand for food? a. While food demand is not very re

Nezavi [6.7K]

Answer:

b. As income increases, the quantity demanded of food decrease

Explanation:

food weights for individuals whose income is sufficient enought to keep them healty and feed will not increase their food consumption much else. That's because, their already have it covered and want to saisfy new needs

The demand for food is only high at low levels of income.

8 0

4 years ago