All categories

4 years ago

If you cause a car accident, which type of insurance will require you to pay the least out of pocket?

Business

2 answers:

Alex4 years ago

8 0

Low deductible plan because there will be low amount of money taken from you. I am pretty sure.

const2013 [10]4 years ago

3 0

The low-deductible plan will result in the least out-of-pocket expenses.

Further Explanation:

Out-of-pocket expenses:

It is the maximum amount of expenses that the insurance policyholder has to pay for medical expenses. It includes the deductible, coinsurance, and co-payment. Premium paid on the insurance policy is not considered as out-of-pocket expenses.

Low-deductible plan:

The low-deductible plan is the insurance plan where the insured person has to spend a low amount of out-of-pocket expenses. The contribution from the side of the insurance policyholder is minimum in the low-deductible plan because most of the expenses are carried out by the insurance company.

The insured person has to pay the least amount of deductible, coinsurance, and co-payment in case of low-deductible plan. Most of the medical expenses are met by the insurance company.

Thus, the low-deductible plan will result in the least out-of-pocket expenses.

Learn more:

1. Learn more about the revenue from property taxes

brainly.com/question/2689578

2. Learn more about the profit from the sales of the property

brainly.com/question/2617534

3. Learn more about the components of the rental housing agreement

brainly.com/question/2358162

Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Insurance

Keywords: If, you, cause, a, car, accident, which, type, of, insurance, will, require, you, to, pay, the, least, out, of, pocket expenses, type of insurance, low-deductible plan, insurance.

You might be interested in

A sum of $46875 was lent out at simple interest and at the end of 1 year 8 months, the total amount was $50000. Find the rate of

tino4ka555 [31]

Answer:

Explanation:

Simple interest is calculated using the formula

I = p x r x t

in this case, the interest I is the total amount-principal amount

I = $50,000- $46,875

=$3,125

$3,125 = 46,875 x r x 1 year 8 months

$3,125 =46,875 x r/100 x 1.67

3125=78,281.25 x r/100

$3125 x 100 = 78,281.25 x r

$312500= 78,281.25

r=312500/78,281.25

r=3.992

r=4%

5 0

3 years ago

A golf ball manufacturer gives us its data for the year: WIP Inventory, January 1 Units started Units completed and transferred

N76 [4]

Answer:

c. $10,106 if taken separately for Direct Material or Conversion Costs

Or None of these as total cost is $ 10,779+$ 10,081= $20860 for units transferred out

Explanation:

Units % of Eq. Units

Completion D.M Conversion

Units completed and

transferred out 6,400 units 100% 6400 6400

WIP Inventory, 3,100 units 90%,60% 2790 1860

December 31

Total Units to account for 9190 8260

Direct materials $15,478

Direct labor $7,400

Manufacturing Overhead $5,611

Direct Material Cost per unit= $ 15478/9190= $ 1.684

Conversion Cost per unit= $13011 / 8260= 1.575=$ 1.58

Direct Material Cost for Completed units = 6400 * $1.684= $ 10,779

Conversion Cost for Completed units = 6400 *1.575= $ 10,081

6 0

3 years ago

What management function is production manager Cedric Stein using when he orders aluminum component parts (bumpers, drive trains

N76 [4]

Answer:

Purchasing

Explanation:

In the purchasing function, the company purchased the products and services from the manufacturer at a lesser cost and then sell the goods at higher prices in order to earn the profit.

When someone purchases, when the price is less and quality is best as compared with the competitors dealing in the same industry

Therefore in the given case, Cedric Stein orders aluminum component parts that are used in the Audi card production so here the purchasing function is used

5 0

3 years ago

Brandi, a sales trainee, watched as her sales supervisor chatted with a prospect's secretary in a very friendly manner. Brandi f

dusya [7]

Answer:

The correct option is (C)

Explanation:

One of the best traits of a good sales person is his ability to connect with people and seek important information related to their needs and attitude towards different products. They strike conversation informally with people to gain their confidence and build rapport.

Here, Brandi is confused as she feels it was not appropriate of her supervisor to talk to a prospect's secretary. However, she did not know that her supervisor chatted with the secretary in a friendly manner as secretaries spend most of their time with the boss and is well aware of his requirements. So, supervisor will be able to seek important information from her about the prospect that would help him convert it to sales.

7 0

3 years ago

You want to accumulate $1 million by your retirement date, which is 25 years from now. You will make 25 deposits in your bank, w

Rom4ik [11]

Answer:

First deposit will be $11,213.87

Explanation:

To derive how much the first deposit must be, the deposit can be derived by using payment formula for growing annuity

P = FV x (r - g) / [(1 + r)^n - (1 + g)^n]

When FV = $1,000,000

r = 7%

g = 3%

n = 25

Hence, First payment will be:

P = 1,000,000 * (7% - 3%) / (1.07^25 - 1.03^25)

P = 1,000,000 * 4% / 5.427433 - 2.093778

P = 40,000 / 3.333655

P = 11998.842

P = $11,998.84

However, this formula is applicable when the payments are made at the end of the year. In this case the payments are upfront, occurring today. We need to adjust this first payment to reflect the early payment.

Hence, first payment = $11,998.84 / (1 + 7%)

First payment = $11,998.84 / (1 + 0.07)

First payment = $11,998.84 / 1.07

First payment = 11213.8691588785

First payment = $11,213.87

7 0

3 years ago