achel's health insurance policy has a monthly premium of $500. She has a $1,000 nnual deductible, after which she pays 80% and the insurance company pays 20%. er maximum annual co-insurance is $2,000. /hat is Rachel's maximum out of pocket cost per year, not counting any co-pays she ight incur? O $2,000 O $3,000 O $3,500 O $9,000
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- Suppose Gretchen's health insurance has a $500 annual deductible. Gretchen is responsible for 20 percent co-pay when she meets her deductible. If Gretchen has $800 in medical expenses this year, how much must she pay?Belinda, a 55 year old single woman with no dependents, has a $75,000 group term life insurance policy through her employer. Her employer pays the premiums on Belinda's group term life insurance policy. How much per year will Belinda have to include into her gross income associated with the cost of this insurance? Assume the cost of this insurance is $0.43 per month per $1,000 of coverage. Multiple Choice $0 $65 $129 None of the aboveMs. Asma is aged 40 years. She consulted Oman United Insurance Company to plan for the higher education of her daughter. Therefore, she asked for a straight life policy with a face value of OMR 80,000 with a semi-annually payment basis. How much will Ms. Asma reimbursed Oman United Insurance Company? 10-Year Fixed Rate 20-Year Fixed Rate Straight-Life Age Male Female Male Female Male Female 20 1.21 1.17 1.82 1.76 2.72 2.63 30 1.27 1.23 1.91 1.85 3.49 3.38 40 1.46 1.41 2.20 2.13 4.02 3.88 50 2.41 2.33 3.63 3.51 5.18 5.01 60 4.72 4.56 7.11 6.88 8.21 7.93 O a. OMR 158.304 b. OMR 80.704 C. OMR 27.160 d. OMR 310.4
- Ms. Asma is aged 40 years. She consulted Oman United Insurance Company to plan for the higher education of her daughter. Therefore, she asked for a straight life policy with a face value of OMR 80,000 with a semi- annually payment basis. How much will Ms. Asma reimbursed Oman United Insurance Company? 10-Year Fixed Rate 20-Year Fixed Rate Straight-Life Age Male Female Male Female Male Female 20 1.21 1.17 1.82 1.76 2.72 2.63 30 1.27 1.23 1.91 1.85 3.49 3.38 40 1.46 1.41 2.20 2.13 4.02 3.88 50 2.41 2.33 3.63 3.51 5.18 5.01 60 4.72 4.56 7.11 6.88 8.21 7.93 a. OMR 158.304 b. OMR 27.160 C. OMR 80.704 d. OMR 310.4Patrick's monthly take-home pay is $5,000. His net worth is $125,000. He estimated that he would receive monthly Social Security benefits worth $1,000 and monthly company disability benefits $2,000 if he becomes disabled. The additional disability benefits that he needs to arrange for equals about O a. $7,000 O b. $2,000 O c. $6,000 O d. $5.000 Qe $3.000Samantha receives a 10,000 life insurance benefit. If she uses the proceeds to buy an n-year annuity-immediate, the annual payout will be 1,824. If a 2n-year annuity-immediate is purchased, the annual payout will be 1,028. Calculate the effective annual interest rate.
- 6. Adrianna wants to provide retirement income for her dependent parents for 23 years should she die. Adriana earns $67,500 and feels that her parents could live on 70% of that amount. If the insurance funds could be invested at 5.5%, how much life insurance does Adrianna purchase using the desired income method? O $714,666.67 $618,666.67 $859,090.91 $1,546,667.8439. Annie is covered by a $200,000 group-term life insurance policy of which her daughter is the sole beneficiary. Annie's employer pays the entire premium for the policy, for which the uniform premium table factor is $0.75 per $1,000 per month of coverage. How much, if any, of the cost of the group-term life insurance is included in Annie's gross income on an annual basis? a. $0. b. $450. c. $1,350. d. $1,800.Nancy is a widow with two teenage children. Nancy's gross income is 54200 per month, and taxes take about 22% of her income. Using the income method, Nancy calculates she will need to purchase about eight times her disposable income in life insurance to meet her needs. How much insurance should Nancy purchase?
- Grace's employer is now offering group-termlife insurance. The company will provide each employee with $135.000 of group-term ife Insurance. It costs Grace's employer $725 to provide this amount of insurance to Grace each year. Assuming that Grace is 57 years old, use the table to determine the monthly premium that Grace must include in income as a result of receiving the group-term life benefit. EXHIBIT 12:08 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection 5-Year Age Bracket Under 25 Cost per $1, e0e of Protection for one Month $0.05 25 to 29 0.06 30 to 34 0.08 0.09 0.10 0.15 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 6e to 64 65 to 69 0.23 0.43 0.66 1.27 2.06 76 and aboveDustin Ambrose is married and claims 3 allowances. His gross weekly pay is $628.00. Each week he pays federal, Social Security, and Medicare taxes, $52.00 for medical insurance, and $23.50 toward his retirement fund. Find The Net PayJamie is the beneficiary of P1,000,000 insurance policy. Instead of taking the money as lump sum, she opted to receive a monthly stipend over a period of 10 years. If the insurance policy pays an interest of 5% compounded annually, what will be her monthly stipend? a. P10,876.24 b. P15,456.36 c. P11,356.68 d. P10,552.28