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please answer all even numbers Directions Solve the following problems. Write your answers in the blanks provided A. Complete the following health insurance problems. 7.1
please answer all even numbers
Directions Solve the following problems. Write your answers in the blanks provided A. Complete the following health insurance problems. 7.1 OBJECTIVE 2 Plan A: Individual annual premium is $1,410 (additional $80 a month for family coverage). The company pays nothing toward the individual's insurance premium 1. Individual monthly premium 2. Family monthly premium Plan B: Individual annual premium is 5980 (additional $80 a month for family coverage). The company pays $45 of the monthly premium for each employee. 3. Individual monthly premium 4. Family monthly premium 5. McNeil Manufacturing pays one-half of each employee's total health-care premium per month. The annual premium for an individual is $2,460. Family coverage can be purchased for an additional $35 monthly. Martha West is married and has two children Compute her monthly premium for insurance that covers her and her family. 8. B. Complete the following life insurance problems. 7.1 OBJECTIVE 3 6. Julie Kelley wants to purchase $250,000 worth of term life insurance at a rate of $2.10 per $1,000. What is her annual premium? 7. Allyson and Rami Khayo each want to purchase S400,000 worth of term life insurance. The rate for Allyson is $2.60 per $1,000. The rate for Rami is $3.25 per $1,000. What is their total annual premium? Han and Kim Nguyen each want to purchase a $200,000 term life insurance policy. The rate for Han is $3.05 per $1,000 and the rate for Kim is $2.10 per $1,000. What is their total annual premium? What is their monthly premium? Mahat owns a Quick Serve One-Stop business. The business is located in a high-crime area. Therefore, Mahat feels he must carry more than the normal amount of life insurance on himself and his four employees. Mahat purchases $1,000,000 on himself at a cost of $5 per $1,000. He pays half of the premiums for each of his employees. Each employee has $200,000 coverage at a cost of $3.25 per $1,000. What is Mahat's total annual premium for himself and his employees? 10. Ned Yearling, age 38, wants to purchase a $100,000 whole life insurance policy with a premium of $3.25 per $1,000. What is his annual premium? 9. a injuring David and John Engles, a passenger in David's car. Po Ling has 20/40/10 11. 12 13 driving to work. Po Ling Wu crashes into David Kinsley's automobile John Engles is awarded $22,500. It will cost $11.450 to repair David's automobile. How much will Po Ling's insurance company pay for personal bodily injuries? How much will Po Ling's insurance company pay for property damage? How much will Po Ling pay? 14. Hope Wilson has an automobile liability insurance policy with 20/40/10 coverage. She is responsible for an accident in which Rhoda Ewing is injured. Rhoda's medical expenses totaled $45,098, and damages to her car totaled $12,500. What is the total amount Hope's insurance will pay? 15. Scott Hanbury has an automobile liability insurance policy with 30/60/10 coverage. He is responsible for an accident in which Glen Garvin is not injured. Damages to Glen's car totaled $20,500. What is the total amount Scott's insurance will pay? 16. David Weber, while driving to work, crashes into a car driven by Karen Mullen. Karen's daughter Savannah is in the car with her. David has an automobile liability insurance policy with 20/40/10 coverage. Both Karen and Savannah are injured. Karen's medical expenses total $23,000, and Savannah's medical expenses total $6,700. Damages to Karen's car total $9,500. What is the total amount David's insurance will pay? 17. Tom Potts decides to buy a no-fault automobile insurance policy worth $30,000 and an uninsured motorist policy worth $35,000. The cost is $3.50 0 per $1,000 for the no-fault insurance and $2.50 per $1,000 for the uninsured motorist coverage. What is Tom's total annual premium for these coverages? . Complete the following homeowner insurance problems. 7.2 OBJECTIVE 3 18. Grace and Ramos Ramirez plan to purchase a tenant homeowner's insurance policy in the amount of $120,000 to cover their household furnishings in their new 4,000 square foot home. Their insurance company quoted them $3.20 per $1,000 for the coverage. What is the annual premium? 19. Jason boards his three horses outside the city by renting pasture. There is a locked tack room on the property where he keeps his saddles, blankets, harnesses, and other equipment. His homeowner's policy on his residence in the city covers both his house and the tack room. His home is valued at $140,000. What is his annual premium if quoted at $2.80 per $1,000? 7.2 RECTIVE 4 E. Complete the following fire coinsurance problems. 20. The Southside Clothing Store is valued at $89.900. To satisfy the 80% coinsurance provision of the policy, for how much should the owner insure the building 21. Kris Kretchen owns a building with a market value of $135,345. He has insured the building for $90,000. A fire caused 61,352 in damages. How much will the insurance company pay if his policy contains an 80% coinsurance clause? Round the percent of recovery to the nearest whole percent before calculating the insurance settlement. 22. Find the face value of a fire protection policy on a building worth $97,230 if it is insured for 80% of its market value. 23. What amount of property insurance with 80% coinsurance is necessary to insure a building valued at $3,500,000? 24. Pepperoni Pizza Parlor suffered smoke and water damage in the amount of $105,000. The building is valued at $210,000 and the owner has it insured for $150,000 with 80% coinsurance. How much will the insurance company settle the claim for? Round the percent of recovery to the nearest whole percent before calculating the insurance settlement. F. Solve the following insurance-related word problems. 25. If an automobile insurance premium of $798 can be paid semi-annually with a 3% annual charge added, what is the amount to be paid every six months? 26. Lydia Morales is married and has a family. Her employer pays 60% of every employee's individual health insurance premium each month. The annual premium for this plan is $2,400 per employee. Family coverage can be purchased for an additional $55.00 per month. Compute Lydia's monthly premium for herself and her family 27. While driving to work, Ben Adler crashes into Fujio Hayashi's automobile, injuring Fujio and his wife Mary. Ben has 20/40/10 liability coverage. Fujio is awarded $23,550 for personal bodily injuries. Mary is awarded $12,400. Repairs to the Hayashi's automobile will cost $12,543. How much will Ben's insurance company pay? 26. Richard's Body Shop had a fire which caused $55,000 in damage to its building valued at $135,000. Richard insured his building for $90,000. How much will the insurance company pay if the policy has an 70% coinsurance provision? Round the percent of recovery to the nearest whole percent before calculating the insurance settlement Step by Step Solution
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