The standard maximum Income Replacement Benefit payable under O.A.P. 1 Owner's Policy "Section 4 - Accident Benefits Coverage" is $400 per week for the first 104 weeks. The actual amount payable is based on which one (1) of the following? OA) 70% of Gross Income. OB) 80% of Gross Income. OC) 70% of Net Income. OD) 80% of Net Income.
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- what recommendations would you make regarding the benefits plan for the next year (consider both financial and non-financial considerations. what would be at least 2 benefits that would need to be eliminated or reduced. Benefit Employee Ranking (1- highest, 10 lowest) Cost (1 - highest, 10 -lowest) Utilization Rates Comments Health Insurance 1 1 76% Dental Insurnace 3 4 72% Vision Insurance 5 5 40% Life Insurance 9 9 100% Employer paid at a base benefit Long-Term Disability 8 6 100% Employer paid at a base benefit Short-Term Disability 7 2 67% 401k 4 3 80% Paid Time Off 2 10 100% All employees are full-time, elgible Employee Assistance Program 6 7 1% Tuition Reimbursement 10 8 2%How Does the Cost of Health Insurance Premiums Vary By Aqe? NGPF Next Gen Pe sonal Finance Data Crunch Insurance Monthly Health Insurance Premium - Silver Tier Plan Average Cost of a Silver Policy by Age $1,200 $1,123 $1.050 $1,016 $900 $835 $750 $668 $600 $540 $457 $478 $450 $425 $374 $376 $300 $150 $0 21 25 30 35 40 45 50 55 60 64 Age ValuePenguin Monthly Premium 1. What is the ANNUAL premium for an individual who is 21 years old? 2. Between what two ages does the largest percentage change in premium occur? рок 1 DOK 1 3. How would you summarize the data in this chart in one sentence? DOK 2 4. If this same data were reported for car insurance, instead of health insurance, would the graph look similar? Why or why not? 5. If this graph were to continue outward, for individuals over 64, describe what you think the bars that follow would look like. www.ngpf.org Last updated: 7/8/20 Monthly PremiumZippy works for Zips Company and received the following amounts. For each item, indicate how much is taxable. If the item is not taxable, put $0 in the taxable amount column. Item Amount Taxable Amount $75,000 2,500 6,000 Salary Health insurance premiums paid by employer Zippy fell at work and broke her arm. She received workers' compensation pay. Zippy had also purchased a loss of income insurance policy from her neighbor. She received benefits while her arm was 2,000 broken. Payment of tuition to attend college Fair value of copies made on work copier Bonus for meeting safety goals (to all employees in her dept) Amazon gift card for Christmas (to all employees) 7,500 200 1,000 150
- 4. Anentrepreneurintends to sell his product for 6.4$ each. The daily cost or expenses can be expressed as x+9.1+.11x^2, wherexis the no. of product sold daily. Find the no. of products that will maximize the profit per day.replace the existing product at much higher Price (P)) or a moderate change in the composition of the existing product with a new packaging at a small increase in price (P,) or a small change in the composition of the existing product except the word "new" with a very small increase in price (P3). The Ihree possible states of nature are : (i) high increase in sales (n). (ii) no change in sales (nɔ), and (iii) decrease in sales (n3). The marketing department of the company calculated the payoffs in terms of yearly net profits from each of the strategies (expected sales). This is represented in the following table : States of Nature A company is contemplating the introduction of a new product with new packing to Strategies 12 3000 1500 P P2 P3 7000 5000 4500 3000 3000 3000 Which strategy should the concerned executive choose on the basis of : (i) Maximin criterion, (ii) Laplace criterion ?Deposits that engineering companies receive in advance for work which has not yet been performed will be included in gross income.
- A primary beneficiary would be named for which of the following types of Accident and Heallh policies? A.Travel Accident B.Major Medical C.Nursing Home D.Business Overhead ExpenseA baseball team has signed a draft pick to a two year contract. The player's expectedmarginal revenue product in year 1 and year 2 are $1-million and $1.7-millionrespectively. The contracted wage is $1.3-million in the first year. The interest rate is7% each year. The competitive wage in year 2 is expected to be $1.8-million. If theteam is indifferent about the player resigning with it at the end of his contract, howmuch will they pay him in the second year? Use a$ and commas.Supply-Induced Demand The chart below depicts an individual's utilization of her regular physician's services, measured in number of visits. The downward - sloping purple line represents her demand for (i.e. marginal benefit of) office visits, the horizontal black line, at $130, is the market price of an office visit, the blue line, at $70, is the marginal cost the physician incurs for each visit, and the red line, at $40, is the per- visit copayment paid by the individual (she is insured). In addition, the green trapezoid, MB, represents the minimum benefit the physician must provide this individual (i.e. patient) in order to avoid losing her to an alternative provider. Suppose, instead, the increase in competition decreases the individual's information about alternative providers, so that MB decreases in size, filling the area between the demand curve and $ 40 up to 5 visits. Assuming the physician can induce demand, how many visits will the individual make?
- 1-23 Golden Age Retirement Planners specializes in providing financial advice for people planning for a comfortable retirement. The company offers seminars on the important topic of retirement planning. For a typical seminar, the room rental at a hotel is $1,000, and the cost of advertising and other incidentals is about $10,000 per seminar. The cost of the materials and special gifts for each attendee is $60 per person attending the seminar. The company charges $250 per person to attend the seminar, as this seems to be competitive with other companies in the same business. a.How many people must attend each seminar for Golden Age to break even? b.If 75 people were to attend, has the company made a profit or loss? (show your work and highlight the answer).Exercise 7.3 An insurer issues a whole life insurance with sum insured $500 000, with premiums payable quarterly, to (70). (a) Calculate the net premium policy value at time 10 assuming that the death benefit is payable at the end of the quarter year of death.A 2% increase in the price of carrot causes its sales to decrease by 6% and sales of sweet potato to increase by 10%. The cross elasticity of demand for sweet potato with respect to change of price in carrot is____. (a) 3 (b) -3 (c) 5 (d) - 5