Exam 7: Insurance

A deductible is the amount subtracted from an insurance settlement.

Byron Trenton wants to purchase a life insurance policy worth $200,000. His insurance agent quoted his monthly premiums at $57.50 per month. What is the cost of the insurance per $1,000?

Parker Manufacturing buys life insurance policies for their top three employees. They purchase $225,000 term policies for each employee, quoted at $3.37 per $1,000 for one year. How much will the monthly premium be for all three employees?

Ridell's employer pays for $60 of his monthly premium for individual health insurance. If the individual annual insurance premium is $1,596, how much does Ridell pay each year?

The _____________ is the payment to the insurance company for the insurance policy.

Which amount will the insurance company pay on a claim filed by a business insured for 80% of the value with an 80% coinsurance plan, where the value of the business is $190,000 and the loss is $165,000?

Elizabeth and Darcy own an interior design business. They want to set up group health insurance for themselves and their 4 employees. Each policy will cost $2,700 annually. What is the monthly premium for each employee if the company covers $100 of the monthly premium?

Regional Corporation offers its employee's healthcare coverage for which they pay $85 of each employee's premium per month. The individual annual premium is $2,100. An additional $110 is added to the individual monthly premium for family coverage. What is the employee's monthly premium for individual and family health coverage?

Claude Nickelson has 25/50/10 liability insurance. He crashes into Irene Newell's automobile, causing $8,200 worth of personal injury and $9,700 worth of vehicle damage. How much will Claude's insurance pay for this claim?

Calculate the individual monthly premium for an employee whose annual premium is $1,860 and whose employer contributes $65.50 per month.

Conway's Hardware suffers $95,000 in fire damage. The building is valued at $450,000, and the owner has it insured for $300,000 with 80% coinsurance. How much will the insurance company pay?

The policyholder is the insurance company that holds the insurance policy for a given individual or business.

A business is insured with an 80% coinsurance plan where the value of the business is $140,000. The business has purchased $100,000 of insurance. There is a fire at the business, and it has $72,000 worth of damage. What amount is 80% of the value? How much of the damages will be covered by their insurance policy?

Determine the annual premium due for property insurance for $215,000 coverage at $4.25 per $1,000.

Which type of insurance pays for damages to the insured person's vehicle as the result of vandalism?

What is the amount of annual premium due for a $1,500,000 term life insurance policy quoted at $4.60 per $1,000?

Adrienne carries 25/50/10 liability insurance on her car. She was recently in an accident where she was at fault. The other driver, Madeleine, had $5,500 worth of personal injury and $9,500 damage to her car. Adrienne had $8,600 in damages to her car. Which will not be covered by Andrienne's insurance?

The person who represents an insurance company and investigates claims is an ____________.

If a company contributes $55 to each employee's monthly healthcare insurance premium and the annual individual premium is $1,980, then the individual monthly premium is $165.

Frank had a car accident in which the person he hit sustained $37,000 in injuries and their car was totaled, which had a value of $32,500. Frank has 50/100/15 liability insurance. For which amount of property damages will Frank be personally liable?