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Multiple Choice QuestionA policy that limits the total of the coinsurance and deductibles you must pay will limit your financial burden, but also increase your Blank______.Multiple choice question.deductible limitmoney cap limitpremiumstotal dollar limit

Question

Multiple Choice QuestionA policy that limits the total of the coinsurance and deductibles you must pay will limit your financial burden, but also increase your Blank______.Multiple choice question.deductible limitmoney cap limitpremiumstotal dollar limit

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Solution

The correct answer is "premiums". When a policy limits the total of the coinsurance and deductibles you must pay, it often means that the insurance company is taking on more risk. To compensate for this increased risk, the insurance company will typically charge higher premiums.

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