______ provisions in an insurance policy stipulate that it will pay only a certain percentage of losses claimed by the insured.
A)Vigilance
B)Co-payment
C)Non-price exception
D)Deductible

Question

Quizplus · Accepted Answer

Co-payment provisions require the insured to pay a certain percentage or amount of the claim, while the insurance company pays the remainder. This helps to distribute the cost of the claim between the insured and the insurer. Deductibles, on the other hand, require the insured to pay a certain amount of the claim before the insurance company begins paying. Vigilance and non-price exception are not relevant terms in this context.

______ Provisions in an Insurance Policy Stipulate That It Will