Which of the following is NOT a type of insurance payment?

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Prepare for the EPF Honors Essentials exam with flashcards and multiple choice questions that include hints and explanations. Boost your confidence and ace the test!

Commission is not a type of insurance payment made by policyholders. Instead, it refers to the fee or percentage that insurance agents or brokers earn for selling or managing insurance policies. Insurance payments typically involve direct costs associated with the policyholder's coverage and financial responsibilities for claims.

In the realm of insurance, premium, deductible, and copayment are all terms that describe financial obligations borne by the insured. The premium is the amount paid regularly to maintain coverage. The deductible is the sum that policyholders must pay out of pocket before their insurance kicks in, influencing how claims are settled. A copayment is a fixed amount that insured individuals are required to pay when receiving specific medical services.

Thus, while premium, deductible, and copayment directly relate to the cost-sharing arrangements in insurance policies, commission pertains to compensation for agents and is not a type of insurance payment by the policyholder.

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