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
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.
Similar Questions
Multiple Choice QuestionWith a(n) Blank______ policy provision, the insurance company cannot cancel unless you fail to pay premiums when due.Multiple choice question.possible renewableguaranteed renewablenon-cancellationanti-cancellation
Multiple Choice QuestionA provision under which the insured pays a flat dollar amount each time a covered medical service is received is called:Multiple choice question.coinsuranceflat rate paymentcopaymentdeductible
Multiple Choice QuestionCoordination of benefits prevents you from collecting benefits from two or more group policies that would in total Blank______ the actual charges.Multiple choice question.exceedcompare toequalbe less than
Multiple Choice QuestionWhich type of limit stipulates expense limits for individual items as opposed to a maximum total limit?Multiple choice question.single limitinternalindividual limitaggregate
Multiple Choice QuestionThe main purpose of a policy provision stating "reasonable and customary" is to prevent Blank______.Multiple choice question.credit fraudexcessive surgeriesloss of insuranceovercharging
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.