An individual will never buy complete insurance if?

Expert Solution

Risk takers or risk taking individuals usually purchase only partial insurance because they can accept a certain amount of risk. Those individuals who are risk averse may still fever complete insurance in order to prevent themselves for any uncertain loss. Therefore individuals will never by complete insurance when they are risk takers.

Rahul Sunny answered 2 years ago

True, false or uncertainty A- An individual with utility function U=20Y2 will never purchase health insurance...

True, false or uncertainty A- An individual with utility function U=20Y2 will never purchase health insurance to protect against the risk of lost income due to accident or illness B- For an indemnity insurance plan with no co-insurance or co-payment, the deductible is the same as the out-of-pocket maximum

An individual suffers a severe cut on the arm and bacteria, which the host are never...

An individual suffers a severe cut on the arm and bacteria, which the host are never “seen” before (immunologically) infect the wound. These bacteria never live inside the host’s cells as part of their life cycle (via consumption). An immune response is initiated and after several days the bacteria are eliminated, and the wound heals. The host is now solidly immune to re – infection by this organism. In as much detail as you can describe what happened. Include all...

Compare and contrast group health insurance and individual health insurance.

Compare and contrast group health insurance and individual health insurance. Provide examples to illustrate how these coverage plans are similar and how they are different.

Should Individuals buy Health Insurance as they buy Car Insurance? Post your response in four paragraphs please.

If only risk-adverse people will buy health insurance, why do somany people who buy health insurance...

If only risk-adverse people will buy health insurance, why do somany people who buy health insurance also buy lottery tickets. SPeculate similarities and differences.

Demand for health care insurance shows the level of health insurance that an individual obtain to...

Demand for health care insurance shows the level of health insurance that an individual obtain to be used in case of facing illness. The level of insurance could vary in accordance with changes in the demand factors. Of the factors we studied that influence the demand for health insurance, which do you believe have the greatest impact on the purchase of health insurance? Make sure you discuss all the factors and then explain in depth your reasoning for the factors...

There are two kinds of consumers who are looking to buy auto insurance from an insurance...

There are two kinds of consumers who are looking to buy auto insurance from an insurance firm – Reckless drivers (R) and Safe Drivers (S). 50 percent of the consumer population is R and 50 percent is S.The insurance company’s cost of servicing a consumer is $80 if she is a safe driver and $120 if she is a reckless driver. The value of the insurance is $100 to S and $150 to R. What is the total surplus? Suppose...

an insurance company must be concerned about the possibility that someone will buy fire insurance on...

an insurance company must be concerned about the possibility that someone will buy fire insurance on a building and then set fire to it. this is an example of moral hazard. True, False or Uncertain. Support your answer with an explanation.

Which statement is FALSE about individual private insurance?

Which statement is FALSE about individual private insurance?Private health insurance is the main method of paying health care.Private health care insurance never became a dominant method of paying for health care because of the huge administrative cost.None of the above options.The health plan gives the payment to the provider in exchange for health care services.With private health insurance, a third party is added in between the patient and the health care provider.

/* Complete this javascript file according to the individual instructions given in the comments. */ //...

/* Complete this javascript file according to the individual instructions given in the comments. */ // 1) Declare an array named myArray // Assign myArray three elements: 'Tuesday',3,true // Print myArray to the console with console.log() // 2) Use typeof on each element in myArray // Example: typeof myArray[0]; // Print all 3 lines to the console with console.log() // 3) Declare a variable named myStart and set it to // the value of the length property applied of myArray...

Question