Microeconomic Theory
12th Edition
ISBN: 9781337517942
Author: NICHOLSON
Publisher: Cengage
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Question
Chapter 17, Problem 17.6P
To determine
To find:
Calculation of present discounted value of premium costs.
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How Does the Cost of Health Insurance Premiums Vary By Aqe?
NGPF
Next Gen
Pe sonal
Finance
Data Crunch
Insurance
Monthly Health Insurance Premium - Silver Tier Plan
Average Cost of a Silver Policy by Age
$1,200
$1,123
$1.050
$1,016
$900
$835
$750
$668
$600
$540
$457
$478
$450
$425
$374
$376
$300
$150
$0
21
25
30
35
40
45
50
55
60
64
Age
ValuePenguin
Monthly Premium
1. What is the ANNUAL premium for an individual
who is 21 years old?
2. Between what two ages does the largest
percentage change in premium occur?
рок 1
DOK 1
3. How would you summarize the data in this chart in one sentence?
DOK 2
4. If this same data were reported for car insurance, instead of health insurance, would the graph look similar?
Why or why not?
5. If this graph were to continue outward, for individuals over 64, describe what you think the bars that follow
would look like.
www.ngpf.org
Last updated: 7/8/20
Monthly Premium
To keep a Renewable Term policy active, the insured must do which of the following?A. Submit a renewal application B.Provide proof of insurability
C. Pay the annual renewal fee
D. Choose a new beneficiary.
Chapter 17 Solutions
Microeconomic Theory
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