Insurance Companies Make Money By Quizlet

An agreement where you make regular payments to a company and the company promises to pay you money if you suffer an injury illness loss etc insurance agent an employee of an insurance company who sells insurance policies and provides customer service.

Insurance companies make money by quizlet. Richard was upset with his insurance agent and decided to change insurance companies. The insurance company covered the rest of the cost of the visit when maria s mother went to the hospital her family was responsible for paying the first 1 000 of the bill. 350 in how many managed care plans may a physician participate. This concept is known as.

When shopping for insurance use a n agent who shops a bunch of different companies to find the best rate for you. Richard s auto insurance policy expired on 5 15 2002. Calculate the amount of money the insurance company would owe on a covered service costing 850 if there is a 500 deductible which has not yet been met and no coinsurance. When an insurance customer pays their monthly premium the insurance company takes the money and invests in the financial.

On 5 16 2002 as he drove to a different agent to buy a new policy he had an accident. Insurance companies also make a bundle of money via investment income. Mutual insurance companies make investments in portfolios like a regular mutual fund with any profits returned to members as dividends or a reduction in premiums. A life insurance policy with a small face amount where the premium may be collected weekly by agents is termed.

Learn vocabulary terms and more with flashcards games and other study tools. Then they collect everyone s monthly premiums together and use the money to make payments when people file a claim for example someone is in an auto accident or needs to see a doctor. Industrial life insurance insurance companies make profit by. After this payment the insurance company covered the rest of the costs.

Read the passage about a family health insurance plan.