What is the $75 payment Nelson must make each month?
Asked by: Dr. Fermin Muller III | Last update: July 5, 2025Score: 4.2/5 (63 votes)
What is the $75 payment Nelson must make each month brainly?
Expert-Verified Answer
Nelson's $75 monthly payment is called the 'Premium,' which is the cost of maintaining his insurance coverage. Other options like co-payment, deductible, and payout refer to different aspects of insurance payments and claims. Therefore, the correct answer is option A: Premium.
What must happen for an insurance company to make a payout?
The insurance company must verify the claim. The insured party must file a claim. The insurance policy must be in place. The insured party must experience a covered loss.
What are payments you make for an insurance policy called?
Premium - The payment, or one of the periodic payments, a policyowner agrees to make for an insurance policy.
What do insurance companies create a pool of funds to handle?
Risk: Insurance is primarily designed to mitigate risk. By creating a pool of funds, insurance companies can spread the risk among a large number of individuals. This allows them to provide financial protection to policyholders for unforeseen events such as accidents, natural disasters, or illnesses.
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What is the 75 payment Nelson?
What is the $75 payment Nelson must make each month? premium.
What is an example of a pool of funds?
Pooled funds are funds in a portfolio from many individual investors that are aggregated for the purposes of investment. Mutual funds, hedge funds, exchange traded funds, pension funds, and unit investment trusts are all examples of professionally managed pooled funds.
What is a monthly insurance payment?
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.
What is policy payment?
An insurance premium is the amount you pay to your insurer regularly to keep a policy in force. You may be able to pay premiums monthly, quarterly, every six months or annually, depending on your insurance company and your specific policy.
What does $50 copay after deductible mean?
A copay after deductible is a flat fee you pay for medical service as part of a cost-sharing relationship in which you and your health insurance provider must pay for your medical expenses. Deductibles, coinsurance, and copays are all examples of cost sharing.
How are insurance payouts paid?
Receiving your payment
Depending on the nature of your claim, you may receive a check directly, or the insurance company may pay vendors on your behalf. The total amount you receive will be based on the amount of coverage in your policy and the specific details of your claim.
How long does it take for a beneficiary to receive money?
How long does it take for beneficiaries to receive life insurance money? Life insurers typically take 14 to 60 days to pay out the death benefit after the beneficiary files the claim. This is because they must verify the policy terms and policyholder's death certificate and confirm who the beneficiaries are.
Can I sue my own homeowners insurance?
In California, that is considered misrepresentation if proved. Under California's Fair Claims Settlements Practices Regulations, property owners can bring a claim against their homeowner's insurance carrier if the insurer acted in bad faith.
What is the $25 fee Maria's mother paid?
The $25 fee Maria's mother paid when Maria visited the doctor is a co-insurance or an out-of-pocket expense according to the insurance terminology. A co-insurance or an out-of-pocket is the cost that a person must pay in order to activate his/her medical insurance in a medical provider.
What is an amount of money that is the same each time you pay?
Fixed expenses. Expenses, like bills, that must be paid each month and generally cost the same amount.
What is the majority of each monthly payment at the beginning of a loan goes to pay?
Typically, the majority of each payment at the beginning of the loan term pays for interest and a smaller amount pays down the principal balance. Assuming regular payments, more of each following payment pays down your principal.
How does payment insurance work?
Payment Protection1 is a simple and budget-friendly way to protect your family and help ensure your credit cards, auto loans, or personal loan payments are maintained if you become unemployed, disabled, or pass away. This protection could cancel your loan balance or payments up to the contract maximums.
How much money will Jerry have to pay for the accident's bill?
Jerry will thus be responsible for paying the following sum towards the accident's bill: Deductible of $1500 plus the amount above the deductible that is still within the $10,000 coverage limit equals $6000. So Jerry will be responsible for paying the accident's bill of $6000.
Is it cheaper to pay insurance every 6 months?
A: Not necessarily. According to Nathan, "Every carrier is a little bit different. Some might offer you a cheaper rate if you select a 12-month policy, while others might make it cheaper if you select a 6-month policy.
What is monthly policy amount?
Insurance premiums are usually a monthly charge that's determined by your insurance company, and if you enroll through work, also by your employer. These payments are how you keep your policy active and available to cover any claims you may file.
What is a monthly payment plan?
A Monthly Payment Plan is a strategic plan designed to help organizations manage their monthly payments and billing processes. It involves setting clear objectives and targets (KPIs) in order to optimize billing processes, streamline monthly payment cycles, enhance customer service, and increase revenue.
How much insurance should I pay per month?
Car insurance on average is $79.83 per month in low-cost states, $105.36 per month in medium-cost states, and $157.27 per month in high-cost states. Note that it's often cheaper to pay for your policy in full rather than monthly.
What is a pool of money called?
A fund is a pool of money that has been created for a specific reason. There are different types of funds that exist for different purposes.
What is an example of a fund of funds?
FoF of mutual funds: These FoFs invest in a diversified portfolio of individual mutual funds, which themselves might be invested in a variety of asset classes like stocks, bonds, and many more. An example of a mutual funds' FoF is the Vanguard STAR Fund, which invests in a mix of other Vanguard mutual funds.