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By Offering a Menu of Policies with Different Premiums and Deductibles,insurance

question 106

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By offering a menu of policies with different premiums and deductibles,insurance companies can _____ their customers;for example,a low-risk customer will often buy insurance with a lower _____ but a higher _____ than a high-risk customer.


Definitions:

Emotional Effort

Emotional Effort involves the energy and control required to manage and express one's emotions in socially appropriate ways, often in professional settings.

Hierarchy Of Needs

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, in ascending order.

Upper-level Needs

Higher-order needs in a hierarchy, typically related to self-actualization, esteem, and personal fulfillment.

Lower-level Needs

Fundamental human requirements, such as physiological and safety needs, as identified in Maslow's hierarchy of needs.

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