Business, 22.04.2020 04:49, od3008

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Jerry has an insurance policy with a premium of $150 per month. In June, he’s in an accident and receives a bill with a total cost of $6000. His deductible is $1500, and his coverage limit is $4000.

Describe “insurance premium” in your own words.

How much total money will Jerry pay in the month of June?

Assume Lauren has the same exact accident, but her monthly premium she pays for the insurance policy is $250. Would you expect Lauren’s deductible to be higher, lower, or the same as Jerry’s? Why?

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Jerry has an insurance policy with a premium of $1...