Insurance

Question 1

Which is always a cost when buying insurance?

Revolt · Accepted Answer

A: premium

Question 2

How can an insurance company make a profit by taking in premiums and making payouts?

Revolt · Accepted Answer

A: The value of the premiums the company takes in is higher than the value of the payouts it makes.

Question 3

Most people prefer to pay health insurance premiums rather than pay out-of-pocket for medical expenses because

Revolt · Accepted Answer

D: medical costs can be extremely high, and insurance is more affordable than paying out-of-pocket for a hospital stay.

Question 4

sharemoveavoidreplace

Revolt · Accepted Answer

A: share

Question 5

Under which circumstance would someone need disability insurance?

Revolt · Accepted Answer

C: A person was in a car accident and cannot work for several months.

Question 6

Insurance is a financial service that allows a

Revolt · Accepted Answer

C: consumer to share liability with a company.

Question 7

What must happen in order for an insurance company to make a payout? Check all that apply. The insurance company must verify the claim.The insured party must file a claim.The insured party must purchase property.The insurance policy must be in place.The insured party must experience a covered loss.

Revolt · Accepted Answer

18756,18757,18759,18760

Question 8

Which type of insurance policy would someone get to protect others only?

Revolt · Accepted Answer

B: life insurance

Question 9

Roland has purchased a new tablet. How can he reduce the risk of damage or misuse? Choose three correct answers.by using a screen protectorby letting his toddler play with itby using an antivirus appby using a protective caseby letting his friends borrow it

Revolt · Accepted Answer

83941,83943,83944

Question 10

Maria's family has a health insurance plan. Her mother has $350 deducted from her paychecks each month.When Maria visited the doctor, her mother paid a $25 fee. The insurance company covered the rest of the cost of the visit.When Maria's mother went to the hospital, her family was responsible for paying the first $1,000 of the bill. After this payment, the insurance company covered the rest of the costs.

Revolt · Accepted Answer

C: co-payment

Insurance Answers

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