What is the difference between hospital indemnity insurance and hospital expense insurance? Which is the preferred coverage? Explain why.
Answer to relevant QuestionsSuppose you have $5,000 of health care expenses that are not covered by your basic health insurance. You have a major medical policy with $500 deductible and 20 percent coinsurance. What are your out-of-pocket expenses? What part does the elimination period play when planning for adequate disability income protection? How does Social Security define “substantial gainful employment”? Explain how definitions of disability contained in private insurance policies can determine the quality of the insurance protection. One life insurance expert suggests that people should never buy participating life insurance, because the purpose of life insurance is to reduce risk, not to increase it. Discuss. What is the difference between joint life and survivorship joint life?
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