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Difference between a deductible and a premium?
A premium is the amount of money you pay the auto/health insurance company monthly, quarterly, or biannually whether or not you get in an accident or go to the hospital. The higher your premium the lower your deductible, and the lower your premium the higher your deductible. A deductible is the amount of money after you get in a car accident or visit the hospital before your insurance company pays anything. After you have met your deductible the insurance company covers the rest of the expenses.
What is a car insurance premium?
A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.
What was the monthly premium for a family of four in 1993 with cigna insurance?
That would depend on the employer. You'd have to go to them to ask, the insurance company doesn't receive the premium and doesn't know how much the employer charges in premiums. Usually, the premium money doesn't even end up with the insurance company at all. Most employers actually pay all the claims out of their own funds. The insurance company does the work of this and does get paid an adminstration fee, but the money that goes to the dr's and hospitals is coming out the employer's bank account.
How is a deductible different from a premium?
Both terms relate to insurance, but mean different things. A deductible is the amount of money that the insured has to pay toward a covered occurrence before the insurer's obligation to pay anything is triggered. For example, if an auto policy had a $250 collision deductible, the insured would be responsible for the first $250 in repair costs; the insurer would pay the rest. The theory is the same in the case of health insurance. A premium is the amount of money that the insured pays in return for insurance coverage. In other words, it is the price of the policy. It is generally payable on a monthly, quarterly, semi-annual or annual basis.
The amount of money paid to keep an insurance policy is force is the?
basic premium
Where does insurance claims money come from?
When you get insurance on a car, a house, a boat, you pay the insurance company money, known as premiums. The insurance company invests that money. When there is a claim, some of the premium, along with some of the interest from the invested money, is used to pay the claim.
What if you die after making the first life insurance premium?
i got all of yo money
What could be a result in receiving a discount on your insurance premium?
A. You pay less money for insurance coverage B. You are less likely to change insurance companies
Before getting insurance what should I know about "return of premium term insurance"?
Return of premium term insurance deals with the ability to get your money back if you cancel mid-term. Most companies will give a pro-rata return.
What is a single premium life insurance?
single premium life insurance: Single premium life insurance is a form of life insurance that's paid with one upfront lump-sum premium. Once you've purchased a single premium policy, you would receive a permanent death benefit that extends until you die.
What Is Premium Diversion?
Premium diversion is the embezzlement of insurance premiums. It is the most common type of insurance fraud. Generally, an insurance agent fails to send premiums to the underwriter and instead keeps the money for personal use.
What services does Close Premium Finance offer?
Close premium Finance offers a service that allows you to pay an insurance premium more easily. They lend you the money to pay the premium and you repay the loan over time.
