Compare and contrast PAR and nonPAR and the methods used by insurance companies to determine how much a provider is paid.

Compare and contrast PAR and nonPAR and the methods used by insurance companies to determine how much a provider is paid. Support your post.

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ANSWER :

PAR (Participating) policy method : Participating policy method used by insurance companies shares profits to the policy holder of insurance company in the forms of bonuses. It is otherwise known as with policy profit method. The payment is paid in the form of bonuses yearly. It provides protection to the policy holders with good returns.

NON PAR (Non Participating) policy method : Non participating policy method are not distributed nor shares the profits to the policy holders. In this type the premiums are less when compared to participating policy. It is otherwise known as without profit policy.

Nightingale answered 2 years ago

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