Admitted Asset
Include assets that are liquid and whose value can be assessed or receivables that can reasonably be expected to be paid. They are included by insurance companies on financial statements because it is required by law.
An individual has a Major Medical policy with a $5,000 deductible and an 80/20 Coinsurance clause. How much will the INSURED have to pay if a total of $15,000 in covered medical expenses are incurred?
An individual has a Major Medical policy with a $5,000 deductible and an 80/20 Coinsurance clause. How much will the INSURED have to pay if a total of $15,000 in covered medical expenses are incurred? Answer: $7,000