Respuesta :
When benefits are paid to a policyowner covered under a Hospital Expense policy, the policy is known as reimbursement.
What is a straight life policy?
- Straight life insurance has level premiums you pay until death or until the policy is considered paid in full.
- Once you pass, the death benefit amount is then paid to your chosen beneficiary or beneficiaries.
Which type of policy is considered to be overfunded?
- Overfunded life insurance is when you pay more into a policy than is required. Permanent life insurance policies, such as whole life insurance or universal life insurance, have a cash value component.
- So, by overfunding your policy, you contribute more to the cash value.
Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party? Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured.
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