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What else can I help you with?
What term is defined as the amount you are responsible for paying to repair your car after the accident?
The term is "deductible". It is payable as to collision and comprehensive claims. The deductible is chosen by the insured when the insurance is initially purchased.
What is Amount payable by insurance company for insurance?
This is the amount paid by the insurance company to the doctor. It is the negotiated rate less the amount that you paid in the form of a copay, a coinsurance, or a deductible.
What is meant by expenses payable?
Expense payable is a current liability.
What is mean by payable and outstanding payable?
Those expenses have to pay pay
Is accounts payable same as expenses?
No
Is it true that in the state of Michigan the person who paid the funeral expenses is entitled to the insurance benefit regardless of who the beneficiary is?
Unlikely. It doesn't make sense. If you pay $10k in funeral expenses and the life insurance is 10 million - what kind of a deal is that? It would certainly be possible that if the insurance is payable to the estate of the deseased that the person who paid the funeral expenses could get the $$$ from there.
What is the definition of deductible?
1) The term used to describe a sum of money payable by the claimant of an insurance policy prior to the insurance company paying anything. 2) Any sum of money being subtracted from a larger sum.
Is the beneficiary of a life insurance policy responsible for funeral expenses of the deceased?
No. All monies of a deceased is gathered in to their estate, then all debts of the deceased are paid, then legacies are paid out. Policies payable to a person are payable to that person.
Is tax payable on income an expense?
Taxes are payable on income less expenses
What is a accounts payable jopurnal?
By Accouts payable Dr To Expenses A/c Cr
What is the journal entry for electricity payable?
Debit electricity expensesCredit expenses payable
How can you reduce the cost of health insurance premiums?
With respect to private health insurance premiums, three of the main ways to do this is by selecting a higher individual or family deductible, choosing a higher co-payment, or opting for a policy that is something less than full-fledged "major medical" insurance A deductible is tha mount of money that you essentially self-insure for. That is, medical expenses must be incurred, and paid for by you, up to the selected deductible before the insurance company is obliged to pay further expenses. Therefore, if a higher deductible is selected, the insurer is not on the hook until a greater amount of medical expenses have been incurred, and it can charge a lower premium. Keep in mind, though, that you may not end up with a net savings because you will be personally liable for the increased amount of medical expenses. It is a gamble, but if you are in good health,and/or have savings upon which you can rely, it may be one that you are willing to take. A co-payment is in some ways similar to a deductible (but not really). It is the amount of money that you are required to pay toward the cost of a covered procedure. It is sometimes expressed as a fixed dollar amount (such as $25 for an office visit), or as a percentage of the cost of a procedure. Again, the higher the co-payment that you select at the inception of the policy, the lower your premium will be. The reason is similar to the idea of a deductible: the insurer's responsibility for payment is lower and it can afford to charge a lower premium. Finally, there are health insurance products available that are not full-fledged ones--they are sometimes called "mini-meds". They often have a cap on the amount payable per year or for a given procedure. In that case, you would be individually responsible for all other amounts. Never confuse these types of health insurance policies (broadly called "indemnity" policies) with discount plans. Discount plans have their place and their value, butnthey do not assume the risk of payment of any loss. That is, they contract with providers to render care to plan members at a reduced fee, but the member if fully responsible for the payment of the fee to the provider.
