True or false: In a service benefit provision, insurance benefits are expressed in terms of entitlement to receive specified hospital or medical care rather than a fixed dollar amount for each procedure.
Question
True or false: In a service benefit provision, insurance benefits are expressed in terms of entitlement to receive specified hospital or medical care rather than a fixed dollar amount for each procedure.
Solution
True. In a service benefit provision, insurance benefits are indeed expressed in terms of entitlement to receive specified hospital or medical care rather than a fixed dollar amount for each procedure. This means that the insurance company will cover the cost of certain medical services, rather than providing the insured with a specific amount of money.
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