As an Alternative to Coinsurance,rate Discounts Can Be Given as the Amount

question 33

Multiple Choice

As an alternative to coinsurance,rate discounts can be given as the amount of insurance to value increases.This alternative is called

• A)graded rates.
• B)agreed value coverage.
• C)retrospective rating.
• D)manual rating.

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Definitions:

Normative Behaviour

Behaviors that are considered normal or appropriate within a society or social group, typically guided by established norms and expectations.

Cultural Ideas

The shared beliefs, values, and practices that characterize a particular culture or society.

Imagined Community

A concept that describes a nation as a socially constructed community, imagined by the people who perceive themselves as part of that group.

Subscription

A business model or arrangement where customers pay a recurring price at regular intervals to access a product or service.