nicole has a whole life insurance. she is currently paying $3500 annual premium. the cost of receiving $500,000 death benefit for her policy is $200, and the administrative fee charged on her policy is $100. calculate how much of her insurance premium is added to the policy's cash value in each year. you must show your work for credit

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04-11-2022
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nicole has a whole life insurance. she is currently paying $3500 annual premium. the cost of receiving $500,000 death benefit for her policy is $200, and the administrative fee charged on her policy is $100. calculate how much of her insurance premium is added to the policy's cash value in each year. you must show your work for credit

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BinithaR BinithaR · Answer 1 · 2022-11-08T01:42:21-05:00

Cash value=3800, The term "gross premiums written" in the insurance sector refers to the total of direct and assumed premiums written, minus any ceded reinsurance.

What is insurance premium?

The term "gross premiums written" in the insurance sector refers to the total of direct and assumed premiums written, minus any ceded reinsurance. The term "direct premiums written" refers to all premiums paid for insurance policies that were written during the year by the company's insurance subsidiaries.

cash value=3500+100+200=3800

The monthly premium you pay for health insurance. You typically have to pay a deductible, copayments, and coinsurance in addition to your premium for your health care. If you have a Marketplace health plan, a premium tax credit might be able to help you save money.

In general, a premium is a cost that is incurred above and above some fundamental or intrinsic worth. Relatedly, it is the cost associated with being shielded from a loss, risk, or injury.

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