There is high possibility that insurred person will take the benefit very soon than filling premium for a long time. As an example of older people , their health mostly becomes weak and a higher risk that insurance money is need very soon. So insurance companies keep tough regulation policies to older people than younger. Simply , there is high possibility that the company may incure loss, so the possibility ogf getting insurance to needy one is tough..
The U.S. government subsidizes flood insurance because those who want to buy it live in the flood plain area and cannot get it at reasonable rates. What inefficiency does this create?
Why is it difficult for many people to buy life insurance even though they need it to protect loved ones? What is term insurance? What factors determine the premium for term insurance? What is decreasing-term insurance? What is mortgage life insurance? Is mortgage life insurance a good buy? Why or why not? Term Insurance Premiums. What are some factors that affect term life insurance premiums? Policy Clauses. Describe the nonforfeiture and loan clauses of whole life insurance policies.
1. A life insurance company must be concerned about the possibility that the people who buy life insurance may tend to be less healthy than those who do not. This is an example of adverse selection. True, False, or Uncertain? Support your answer with an explanation (one to two sentences) or a diagram. [2 marks] 2. An insurance company must be concerned about the possibility that someone will buy fire insurance on a building and then set fire to it....
An article in the Economist observes: “Insurance companies often suspect the only people who buy insurance are the ones most likely to collect." a. What do economists call the problem that is described in the article? b. If insurance companies are correct in their suspicion, what are the consequences for the market for insurance?
1. What area or areas of Public Health Science appeal to you most? Why? **Be specific. DO NOT say "I like it" and leave it at that. 2. What area or areas of Public Health Science are least appealing to you? Why? **Be specific. DO NOT say "I don't like it" and leave it at that. 3. What do you feel are the four (4) biggest challenges facing public health/health care services in the United States? **Provide specific examples and...
Providing care for those with a preexisting condition is a necessary requirement for health insurance reform. The issue is how that coverage should be provided. Which of the alternative approaches suggested by Feldstein do you support? Why do you think this is the best alternative among those discussed?
You are trying to decide what kind of the health insurance policy to buy for yourself. You seek advice from an insurance advisor who tells you that, based on her knowledge of the various policies there are to choose from, the policy she recommends is certainly the best one for you. In Scenario A, the kind of evidence the adviser is using to support her claim is A) Scientifically reliable B) Argument from authority C) Anecdotal
72) In the market for automobile insurance, adverse selection implies that A) those who are insured might take greater risks. B) insured and uninsured alike will take greater risks. C) those who are uninsured might take greater risks. D) drivers with greater risks are more likely to buy insurance. 73) Product differentiation A) means that the monopolistic competitor's product is a close but not a perfect substitute for the products of its competitors. B) is why a monopolistic competitor faces...
Under the ACA, most Americans are required to have qualifying health insurance EXCEPT a. Undocumented immigrants b. Persons who would have to pay 5% of their income for health insurance c. Non-citizen permanent residents d. Self-employed individuals
The ACA changed the way we purchase health insurance. For this assignment, we will look at pre-ACA days. It seems that the only ones who could get insurance were the ones who did not need it. Why is this? First, discuss the different private health insurance markets. What are the determinants of private health insurance premiums? Identify and discuss 3 factors that determine how insurance premiums are determined. Lastly, how does all of the information you presented, answer the question:...