BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jan pays $70 each month for her auto insurance policy. This regular payment is called a:
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co ____ pay
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deductible
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premium
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claim
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Explanation:
Detailed explanation-1: -Six-month car insurance is a type of insurance in which the car owner makes a single payment to cover their car for six months instead of the traditional 12-month policy plan.
Detailed explanation-2: -What are insurance premiums? An insurance premium is the amount the policyholder agrees to pay in exchange for coverage. It guarantees financial compensation for the damages or losses they incur, as long as timely payments are made.
Detailed explanation-3: -Q. Which term refers to an arrangement where you are responsible for paying a percentage of covered medical expenses after your deductible is met? Deductible limit.
There is 1 question to complete.