Under Partial Insurance, Companies Offer Products with Deductibles

question 22

Multiple Choice

Under partial insurance, companies offer products with deductibles.If an individual opts for a deductible, he/she will have to:

• A)bear the entire loss incurred and then get it reimbursed form the insurance company.
• B)bear the initial part of the losses incurred.
• C)pay very high premiums to gain adequate protection.
• D)opt for a whole life insurance policy as additional insurance.
• E)return fifty percent of the amount received as face value, back to the insurer.

---

Definitions:

Clinical Laboratory Improvement Amendments

Regulatory standards that guarantee the precision, dependability, and promptness of patient test outcomes, irrespective of the test's location.

1988

A year identified by significant events, developments, or cultural landmarks in history.

Physician's Office Laboratories

Laboratories within doctors' offices where simple tests are performed on-site to provide quick results for medical diagnosis and treatment planning.

Moderate-Complexity Tests

Laboratory testing procedures that require a moderate level of expertise, oversight, and equipment to perform and analyze results accurately.