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A premium is typically paid by an individual or entity seeking insurance coverage or financial protection. This payment is made to the insurance company in exchange for the promise to cover certain risks or losses. Premiums can also refer to the additional costs paid for enhanced features or benefits in financial products, like options or bonds. Ultimately, the responsibility for paying a premium lies with the policyholder or investor.
What else can I help you with?
What terms is the amount you or your employer pays in exchange for insurance coverage?
It is called a premium.
Can an employer suspend health coverage if the employee pays part of premium?
No, an employer cannot suspend health coverage if the employee pays part of premium. as per Law.In case where the employer pays the entire premium, he can suspend health coverage on one pretext or other.But when the premium is equally shared by both the employer and employee, it would be a contractual violation and the employee can sue against his employer for remedy.
If my employer pays the premium for an insurance policy for me is it taxable?
Yes, the benefits are taxable.
Which term refers to the amount you or your employer pays in exchange for insurance coverage?
Premium a+
What is the amount you or your employer pays in exchange for insurance coverage called?
The term is "premium".
What best describes term life insuranceA The insured is covered during his or her entire lifetimeB The insured pays the premium until his or her death?
Which of the following best describes term life insurance?A. The insured is covered during his or her entire lifetime.B. The insured pays the premium until his or her death.C. The insured pays a premium for a specified number of years.D. The insured can borrow or collect the cash value of the policy.
What does insurance monthly premium means?
This is the amount of premium that a policyholder pays when he/she has chosen to pay it on a monthly basis. The annual premium is divided by twelve then any billing charge or service fee is added to the amount to get the monthly premium.
What is a Fully Insured?
In a traditional fully insured health plan, the company that you work for pays a premium. The premium rates are fixed annually and you pay a monthly premium rate depending on how many employees are enrolled in the plan. The monthly premium will only change during the year if the number of employees change. The insurance company collects the premiums from your employer and pays the claims based on the benefits in the policy that was purchased.
Which of these is a prepaid health plan under which a member pays a monthly premium in exchange for comprehensive care?
HMO
What is a prepaid health plan under which a member pays a monthly premium in exchange for comprehensive care?
HMO
Does the employer pays the premium for the COBRA coverage?
No, when Cobra goes into effect, the (former) employee pays the entire portion of the premium. Although possibly very expensive, the coverage is guaranteed and possibly at better rates than going out to buy individual coverage since it is a group plan.
Who pays the premiums after life insurance is assigned?
If ownership of the policy is assigned, the assignee is liable for future premium payments.
