a \"cancelable\" policy of health insurance may be canceled by: a) the insured o

Question

a "cancelable" policy of health insurance may be canceled by: a) the insured only b)either the insurer or the insured c) insurer only d) the agent, insurer or insured a "cancelable" policy of health insurance may be canceled by: a) the insured only b)either the insurer or the insured c) insurer only d) the agent, insurer or insured a "cancelable" policy of health insurance may be canceled by: a) the insured only b)either the insurer or the insured c) insurer only d) the agent, insurer or insured

Explanation / Answer

Solution:

b)either the insurer or the insured

Explanation:

Policy that may be terminated either by the insured party or the insurance company (the insurer) at any time. Except life insurance, practically all types of insurance coverage is easily cancelable. If the insured cancels, the insurer will charge the higher premium rate (applicable to short-term policies) on the period already covered. If the insurer cancels, it must give the period of notice required in the policy and must refund prepaid premium on a pro rata basis.

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