{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Week 12 Discussion - ACE 245 Discussion Sections Week 12...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACE 245 Discussion Sections – Week 12 Goals: 1) Be able to analyze basic insurance policy provisions and insurance need; 2) Be able to analyze stock trading information and compute stock yields 1. Joe has a health insurance policy with a $500 calendar year deductible, a $2,000 out-of-pocket cap, and an 80% coinsurance provision. If his first medical expense of the year is a $600 covered loss, how much will the insurance company pay? $ 80 2. Given a $250 annual deductible, a 20% copayment requirement and $5,000 annual limit on a policy-holder’s coinsurance costs, and a $250,000 policy limit, in the absence of any prior medical expenses in the current year, how much of a $27,500 medical bill would the insured have to pay? $5,250 = Min [5,250; {(27,500 – 250)*0.2 + 250}] 3. A fire destroyed a top-of-the-line barbeque grill that Daniel purchased 4 years ago for $3,000. Today, the same grill would cost $4,000. His homeowner’s insurance is subject to a $500 deductible per incident and reimburses for actual cash value. Furnishings are depreciated on a straight-line basis for 10 years.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern