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Topic 23: Legal Aspects of Insurance - 65 $100,000 of the required $120,000 of coverage That is 83 percent of the required amount Take 8333 percent of the $30,000 loss, which is $25,000 If John has a $500 deductible, the insurance company will pay $24,500 B Health insurance calculation (1) The deductible is the retained risk When covered expenses are incurred, the rst part of the expenses is applied to the deductible, which is paid by the insured (2) After the deductible is paid, the next provision is coinsurance Coinsurance, also known as co-payment, is a split between the insured and the insurance company The most common is 80/20 If an insured has a $1,500 medical bill, a $300 deductible, and 80/20 coinsurance, the insured pays the rst $300 and 20 percent of the next $1,200 The insurance company pays 80 percent of that $1,200 (3) Next is the stop-loss limit, sometimes called the maximum out-of-pocket expense Its use becomes vital in cases of catastrophic medical expenses where the coinsurance provision may result in an individual s paying a large sum of cash For example, a plan may have a $200 deductible and an 80 percent coinsurance provision that applies to the next $5,000 In this case, the most the individual pays out of pocket is $1,200 ($200 + $1,000) C Life insurance calculation (1) There are three primary factors used to calculate the premiums of a life insurance policy (a) Mortality The probability of dying or living at a certain age An actuary determines the rate of death at each age and lists an arbitrary number of lives at each age (b) Interest Insurance companies do not need to collect the full amount of future losses from the members of the group, because they earn interest on the funds that are collected The allowance for interest is made by discounting the future claims to obtain their present value (c) Loading The portion of the premium that is designed to cover the expenses, pro t, and margin for contingencies (2) Mortality and interest are used to calculate the net premium of insurance, excluding operating expenses The gross premium adds net premium and operating expenses and is the amount that the insured pays for the policy (3) Under level premium plans, the insured pays more than the cost of protection in the early years of the policy The difference between what the insured pays and the cost of protection is the policy reserves The reserves represent the cash value of the policy Reserves equal present value of future bene ts minus present value of future premiums.



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You can edit many types of Mac property files with Property List Editor. In this case, the property file is environment.plist. You will learn other types of property files that the Property List Editor manipulates throughout this book.





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9 10 public abstract String getName(); 11 public abstract void setName(String a_name); 12 13 public abstract String getType(); 14 public abstract void setType(String a_type); 15 16 public abstract int getMaxParticipants(); 17 public abstract void setMaxParticipants(int a_max); 18 19 public abstract int getCurParticipants(); 20 public abstract void setCurParticipants(int a_cur); 21 22 public int getRemainingSlots() 23 { 24 return getMaxParticipants()-getCurParticipants(); 25 } 26 27 public String ejbCreate(String a_benefitId, String a_name, 28 String a_type, int a_max) 29 throws CreateException 30 { 31 setBenefitId(a_benefitId); 32 setName(a_name); 33 setType(a_type); 34 setMaxParticipants(a_max); 35 setCurParticipants(0); 36 37 return getBenefitId(); 38 } 39 40 public void ejbPostCreate(String a_benefitId, String name, 41 String a_type, int a_maxParticipants) { } 42 43 public void ejbActivate() { } 44 public void ejbPassivate() { } 45 public void ejbLoad() { } 46 public void ejbStore() { } 47 48 }

C Quali ed transfer payments (educational and medical): Payments of educational or medical expenses are excluded from GST tax

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The class and all of the accessors are declared abstract Internally, the EJB container creates a class that extends this abstract class, based on the information contained in the deployment descriptor It also implements these abstract accessor methods so that the database integration part is filled in Remember, container-managed persistence isn't magic there still needs to be code somewhere (written by the developer or generated) that does all of the dirty work One of the reasons that container-managed persistence is a part of the EJB entity bean specification is that people who developed application objects like EJBs in the past realized how much of nearly the same code existed in their objects

In the preceding code listing, readkey.c reads input from stdin until it encounters a newline (which is generated when you press the Enter key). Then it displays the text entered and the number of characters read (the count includes the newline) and exits. Here s how it works:

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