3
the cost you pay for insurance coverage is
called your
a policy
b. premium
c deductible
d coverage limit

Answer:

The cost you pay for insurance coverage is  called your B: Premium

Explanation:

When a person signs an insurance policy, that insurance company will charge a premium. Premium is the amount of money the person pays for the policy he has taken. We can also say that premium is the “total cost” of your insurance. This amount keeps the coverage of the policy plan effective.  

Other health insurance costs are known as deductibles, coinsurance and copayments. Coverage limit is the maximum amount the insurance company pays for something, according to the terms and conditions of its company. So, the correct answer is Option B and other options are incorrect.

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