Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter9: Insuring Your Health
Section: Chapter Questions
Problem 1FPE
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Concept explainers
Question
In the context of the health insurance and the life insurance, choose the sentence that IS NOT CORRECT: *
- The deductible in a health insurance is an amount of money the insured must pay before benefits become payable by the insurance company.
- When we buy a health insurance, we should make sure that we have enough insurance (the
opportunity cost of not being adequately insured can be extremely high), but without wasting money by overinsuring - Group Health Insurance (most of them being employer sponsored) represents a small percentage (around 5%) of all health insurance issued by health and life insurance companies.
- In a life insurance, a person purchases a policy by paying a premium and the insurance company promises to pay a sum of money at the time of the policyholder’s death to the designated beneficiary.
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