Which of the following statements about group insurance underwriting principles is true? 

Nancy’s employer provides an interesting employee benefit plan. Each employee is given 250 employee benefit credits to spend. A wide array of benefits is available, and the employee uses benefit credits to select the benefits that he or she wants. This type of employee benefit plan is called a(n):

Lynn works for a state university. In addition to the university’s regular retirement plan, Lynn participates in another retirement savings plan. She elected to have $5,000 of her salary withheld and contributed to a tax-sheltered annuity with an insurer. The type of plan that Lynn established is called a:

The exclusion of flood in a homeowners policy is an example of an:

Insight 17.1 (page 374 or 375 of your textbook, depending on whether you have the etext or hardcover book) highlights Six Common 401(k) Mistakes. While each are costly and damaging to an employee preparing for retirement, which of the six do you think is the biggest mistake? Be sure to offer support for your opinion. Outside research may be conducted for this question alone.

The deductible used for automobile collision losses is an example of a(n):

The unit of measurement used in property and casualty insurance pricing is called the:

The deductible used for automobile collision losses is an example of a(n):

Insight 17.1 (page 374 or 375 of your textbook, depending on whether you have the etext or hardcover book) highlights Six Common 401(k) Mistakes. While each are costly and damaging to an employee preparing for retirement, which of the six do you think is the biggest mistake? Be sure to offer support for your opinion. Outside research may be conducted for this question alone.

Connie has an individual medical expense policy with a $1,000 deductible. She is required to pay 20 percent of covered expenses in excess of the deductible. The insurer will pay 80 percent of expenses in excess of the deductible. If Connie has eligible medical expenses of $26,000, how much will be paid by her insurer?