mayorgaangeldavid16 mayorgaangeldavid16

22-05-2024
Business

Answered

1
5 points
How do insurance companies determine premiums?
Willingness to pay
Debt
Income
Level of risk

Answer :

GinnyAnswer GinnyAnswer

22-05-2024

Final answer:

Insurance companies calculate premiums based on factors like income, debt, willingness to pay, and level of risk to ensure coverage of claims and profitability.

Explanation:

Insurance companies determine premiums based on various factors like the level of risk associated with insuring an individual. Factors such as the person's income, debt, and willingness to pay also play a significant role in premium determination. Insurance companies aim to set premiums that cover potential claims, operational costs, and ensure profitability.

Learn more about Insurance premiums here:

https://brainly.com/question/13724529

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