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Why do insurance companies charge different premiums based on the mode of premium payment (e.g., monthly, quarterly, annually)?a)There is no difference in premiums based on the payment mode.b)Monthly payments are more convenient for customers, so they are cheaper.c)Insurance companies charge more for frequent payments to cover administrative costs.d)Insurance companies charge less for frequent payments to encourage regular premiums.Correct answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Why do insurance companies charge different premiums based on the mode of premium payment (e.g., monthly, quarterly, annually)?a)There is no difference in premiums based on the payment mode.b)Monthly payments are more convenient for customers, so they are cheaper.c)Insurance companies charge more for frequent payments to cover administrative costs.d)Insurance companies charge less for frequent payments to encourage regular premiums.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why do insurance companies charge different premiums based on the mode of premium payment (e.g., monthly, quarterly, annually)?a)There is no difference in premiums based on the payment mode.b)Monthly payments are more convenient for customers, so they are cheaper.c)Insurance companies charge more for frequent payments to cover administrative costs.d)Insurance companies charge less for frequent payments to encourage regular premiums.Correct answer is option 'C'. Can you explain this answer?.

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