BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your monthly payment to your insurer, regardless of whether you use any services
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A list of the procedures covered by your insurance carrier
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An added cost you pay in order to receive higher-quality services
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The amount you pay out-of-pocket for a specific procedure or service
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Detailed explanation-1: -An insurance premium equates to the money that is paid by any person or company/business for availing of an insurance policy. The insurance premium amount is influenced by multiple factors and varies from one payee to another.
Detailed explanation-2: -What is an insurance premium? Your monthly payment to your insurer, regardless of whether you use any services.
Detailed explanation-3: -The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit.
Detailed explanation-4: -Premium-The amount paid by an insured to an insurance company to obtain or maintain an insurance policy. Premium load-An amount deducted from each life insurance premium payment, which reduces the amount credited to the policy.
Detailed explanation-5: -The difference between the price paid for a fixed-income security and the security’s face amount at issue is referred to as a premium if that price is higher than par. The purchase price of an insurance policy or the regular payments required by an insurer to provide coverage for a defined period of time.