What is the primary reason why insurance companies rarely offer significant discounts on premiums?

"Insurance companies are not allowed to offer discounts. "Insurance companies are greedy and want to maximize profits. "Insurance companies have strict pricing guidelines to prevent unfair competition. "Insurance companies prefer to invest their profits in other areas.

Why do online intermediaries and insurers often offer similar premiums for the same insurance product?

"They have a secret agreement to fix prices. "Customers rarely compare prices online. "Intermediaries are legally obligated to match insurer prices. "Competition forces them to maintain similar pricing to attract customers.

What is a common incentive offered by insurance companies to encourage healthy lifestyles?

"Discounts on gym memberships "Cash rewards for weight loss "Premium discounts for meeting fitness goals tracked through apps "Free health checkups

What is a key advantage of a family floater insurance policy?

"It allows you to include extended family members like parents and siblings. "It provides a higher sum assured compared to individual plans. "It offers a more comprehensive coverage than individual plans. "It provides cost savings by covering multiple family members under a single premium.

What is a defining characteristic of a group insurance plan?

"It is exclusively available to individuals above a certain age. "It is customized for a specific group with a common association. "It offers unlimited coverage for all medical expenses. "It is purchased directly from the insurer's website.

What is a potential drawback of group insurance plans?

"They offer limited coverage compared to individual plans. "Premiums can fluctuate based on the group's claims experience. "They are only available for a short duration. "They require extensive medical examinations for enrollment.

Why is employee health insurance considered beneficial for individuals with pre-existing health conditions?

"It provides coverage regardless of health status. "It offers lower premiums compared to individual plans. "It includes extensive wellness programs. "It allows for unlimited doctor visits.

What is a significant disadvantage of relying solely on employee health insurance?

"It may not offer comprehensive coverage. "It ceases upon termination of employment. "It requires high employee contributions. "It has long waiting periods for pre-existing conditions.