Health Insurance Calculations and Concepts

This video tutorial covers the concept of co-insurance in both property and health insurance. It explains how to calculate the required insurance amount for property insurance, explores different compensation scenarios, and discusses the co-insurance penalty. The video also covers the calculation of compensation in the event of a total loss and explains how costs are calculated in health insurance with a focus on deductibles and co-insurance percentages.

What is the main focus of this video?

• Understanding deductibles in insurance

• Exploring co-insurance in property and health insurance

• Learning about life insurance policies

• Discussing investment strategies

What is the insurable value of the house in the example?

• 600,000 ringgit

• 500,000 ringgit

• 400,000 ringgit

• 300,000 ringgit

What percentage of the insurable value is required by the co-insurance provision?

• 50%

• 80%

• 60%

• 75%

How is the required insurance amount calculated?

• By subtracting the deductible from the insurable value

• By dividing the insurable value by the co-insurance percentage

• By multiplying the co-insurance percentage by the insurable value

• By adding the deductible to the insurable value

In the first scenario, what is the compensation if the insured value equals the required value?

• Loss amount minus deductible

• Total loss amount

• Insured value minus deductible

• Required value minus deductible

What is the compensation amount in the second scenario where the insured value is less than the required value?

• Required value minus deductible

• Total loss amount

• Fraction of the loss minus deductible

• Insured value minus deductible

What is a co-insurance penalty?

• A penalty for not meeting the co-insurance provision

• A fee for insuring more than the required amount

• A charge for late payment of premiums

• A fine for filing too many claims

In the total loss scenario, how is the compensation calculated?

• Loss amount minus deductible

• Insured amount minus deductible

• Total loss amount

• Required value minus deductible

What is the deductible amount in Madam Chu's health insurance policy?

• 500 ringgit

• 800 ringgit

• 600 ringgit

• 700 ringgit

In a 70-30 co-insurance split, what percentage of the cost is borne by the insurance company?

• 70%

• 30%

• 100%

• 50%