Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Identify the statement that is true of the economic feasibility of insurance. Select a Choice Below current question choices OptionA The use of deductibles to

Identify the statement that is true of the economic feasibility of insurance. Select a Choice Below current question choices OptionA The use of deductibles to eliminate claims for small losses makes premiums impractically expensive. OptionB Insurance is economically feasible if the cost of insurance is small compared to the potential loss. OptionC When the size of the possible loss is insignificant to the insured, insurance is economically feasible for the insured. OptionD If the premium rates are large in relation to the potential loss, the insurance is economically feasible to the insur

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Macroeconomics

Authors: Eric Chiang

3rd edition

978-1429278478, 1429278471, 978-1429278492, 1429278498, 1464191433, 978-1464191435

More Books

Students also viewed these Economics questions

Question

Review the outcome research for family therapy.

Answered: 1 week ago