Why are people often willing to pay more for insurance than the expected valueof the coverage?

Q: Why do insurance companies offer discounts on new houses opposed to old ones?

A: Insurance companies offer discounts on new houses opposed to old one because:

Q: Most life insurance riders are expensive. O True False

A: An insurance policy is purchased in order to receive coverage for damages or losses that might occur…

Q: In what ways are pension benefits and post-retirement healthcare different?

A: This is about In what ways are pension benefits and post-retirement healthcare different

Q: s it still beneficial for a person to have an insurance policy? Explain your answer in detail.

A: Insurance Policy - It is a written document between the insurer and policy holder. In which insurer…

Q: How does Life and Non Life Insurance can save or protect the assets of its policy holders? Cite at…

A: Life Insurance and Non-Life Insurance are the policies provided to the policyholders for protecting…

Q: Pros and cons of long-term care insurance.   Discuss the pros and cons of long-term-care insurance.…

A: Long term care insurance: Long term care insurance means  an insurance that pays those costs that…

Q: you will suggest to someone, which is better to have a life insurance or non life insurance? Why?

A: Life insurance is related to death benefits and non life insurance is related to physical assets…

Q: In what ways do healthcare benefits for retirees vary from pensions?

A: This question tells about healthcare benefits for retirees vary from pensions

Q: How much life insurance does an individual need?

A: Meaning of life insurance:life insurance is nothing but a contract between insurance company and…

Q: What type of life insurance is the most appropriate when purchasing life insurance today? Explain

A: In life insurance is protection against death of persons for family behind So this is very important…

Q: will suggest to someone, which is better to have a life insurance or non life ins

A: Insurance is very necessary to prevent the uncertainty and risk.

Q: What is the difference between life insurance and annuity?

A: Meaning:Life insurance is a cover on financial loss, and it is a contract between insurer and a…

Q: If you will suggest to someone, which is better to have a life insurance or non life insurance

A: Non-life insurance is also known as general, property, and casualty insurance. It's any insurance…

Q: What are the advantages and disadvantages of HAS along with a high-deductible health insurance plan?

A: Here discuss about the advantages and disadvantages of the High deductible Health Insurance Plan…

Q: The Patient Protection and Affordable Care Act limits the extent to which insurers may consider age…

A: Insurance is an agreement between two parties in which one party (insurance company) agrees to…

Q: How do insurance companies determine how much you should pay for your insurance coverage?

A: The amount of money paid for an insurance policy is termed as insurance premium. The premium is paid…

Q: 2. What are the major factors involved in determining how much life insurance coverage a person or…

A: Life insurance is a contract in which an insurance company commits to pay a set sum following the…

Q: What type of life insurance policy would give you investment choice?

A: Unit linked insurance plans (ULIP) is life insurance plans that having hybrid characteristics. This…

Q: Briefly explain the following characteristics of long-term care insurance. Protection against…

A: In long-term care insurance plans there are many approaches to obtain inflation insurance cover. The…

Q: Would you be willing to forgo health insurance or a retirementplan for higher salary or wages? Why…

A: Insurance: Insurance can be defined as the contract between the insurer and the insured where the…

Q: Prepaid insurance is what it sounds like.

A: The prepaid expenses are the expenses that are paid in advance but not yet due for payment.

Q: what are the advantages of high deductible on home insurance

A: A percentage deductible is generally greater than a conventional flat rate based on your houses'…

Q: What will making a prepayment for insurance have the effect of?

A: The insurance paid in advance means the expense has been paid but it is not due yet.

Q: Having convertible term life insurance is especially be nealth issues as you age. True O False

A: In this type of policy insurance company allow to change term policy to whole life insurance policy…

Q: What are the benefits of having third-party insurance?

A: When insurance is purchased for protection against claims of other persons, the insurance is called…

Q: What were your feelings about your need for life insurance before you read this chapter? What are…

A: Insurance is a means of mitigating risk. When you buy insurance, you are purchasing protection…

Q: How does renter’s insurance differ from other home insurance policies?

A: Insurance is a contract between the company and the individual for protecting the specific assets…

Q: How do insurance companies calculate their premiums?

A: Insurance guarantees payment of a stated benefit after completion of a defined period. After expiry…

Q: Why do you believe auto insurance companies provide premium relief?

A: Premium relief can be defined as the concession in premium rate offered by insurance companies to…

Q: Why would insurance providers charge more for a policy holder who smokes versus one who doesn't…

A: Insurance policies such as life insurance policies and health insurance policies are basically…

Q: Why do we need FDIC insurance?

A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…

Q: What are the pro and cons of third-party insurance?

A: Third-party insurance is an insurance policy purchased for the protection against the claims of…

Q: Please give and explain the numerical example of adverse selection that arises in life insurance…

A: In Insurance adverse selection refers to situations in which an insurance company extends insurance…

Q: What are the problems with return on premium life insurance? What type of individual would purchase…

A: Term life insurance guarantees payment of a stated death benefit if the covered person dies during a…