In an actuarially fair insurance contract, the insurance premium equals the probability of sickness times the payout

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In an actuarially fair insurance contract, the insurance premium equals the probability of sickness times the payout amount.

Indicate whether the statement is true or false, and justify your answer.

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Health Economics

ISBN: 9781137029966

1st Edition

Authors: Jay Bhattacharya, Timothy Hyde, Peter Tu

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