3 ms·
That is one model, the other model is flat rate, or progressive rates that don't depend on the individual profile but purely two metrics like age and biologic g
by bwb 6y ago
That is one model, the other model is flat rate, or progressive rates that don't depend on the individual profile but purely two metrics like age and biologic gender... among just about any other structure :).
Insurance is just about anything that provides protection against a possible eventuality.
https://www.merriam-webster.com/dictionary/insurance#:~:text=(Entry%201%20of%202),for%20which%20something%20is%20insured https://www.merriam-webster.com/dictionary/insurance#:~:text...
- giantg2 6y agoYet there is no contract with the government. It's law, policy, and regulation over which the individual has no say nor enters into using consent. You also have to look at real world implementation. A super majority of insurances do not use flat rate.