New RBI Grade B Notification Coming Soon... Prepare with Us!! Click here to enroll

    Register

    Question

    __________ in insurance is the splitting or spreading of risk among multiple parties.

    A Reinsurance Correct Answer Incorrect Answer
    B Coinsurance Correct Answer Incorrect Answer
    C Blanket Assign Correct Answer Incorrect Answer
    D Blanket Bond Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Coinsurance is the amount, generally expressed as a fixed percentage, an insured must pay against a claim after the deductible is satisfied. In health insurance, a coinsurance provision is similar to a co-payment provision, except co-pays require the insured to pay a set dollar amount at the time of the service.

    Practice Next
    ×
    ×