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What is the difference between guaranteed basis and current basis insurance?
Wiki User
∙ 16y ago
Current is based on todays rates, guaranteed is a minimum rate. Look at the guaranteed side as worst case scenario. You really should have had this explained to you by your agent. Fire him. 4lifeguild
Wiki User
∙ 16y ago
Guaranteed basis insurance provides a fixed monetary benefit to the insured regardless of the actual expenses incurred, while current basis insurance adjusts the benefit amount based on the actual expenses. Guaranteed basis insurance offers a predictable payout, whereas current basis insurance offers more flexibility but the benefit amount may vary.
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