Which One of the Following Provisions Requires That the Policyholder

question 62

Multiple Choice

Which one of the following provisions requires that the policyholder pay a basic amount before the policy benefits begin?

• A)coinsurance
• B)stop loss
• C)deductible
• D)self insurance
• E)incontestable

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Definitions:

Cooling-Off Law

A regulatory measure that allows consumers a specified period of time after a purchase to cancel a transaction without penalty, typically applied to door-to-door sales and other direct sales practices.

Door-to-Door Transactions

Sales or services provided through direct visitation to a customer's home or business location, typically involving personal interaction.

Green River Ordinance

This type of ordinance protects consumers and aids local firms by making it more difficult for outside competition to enter the market.

Door-to-Door Sales

A direct sales method where salespeople visit potential customers at their homes to sell products or services.