Final answer:
Limited insurance plans are known for covering limited perils and offering limited benefits. The characteristic that does not describe a limited plan is 'very broad or open perils'. Insurance companies must notify the insured regardless of the plan's scope.
Step-by-step explanation:
The question is asking about the characteristics of limited plans in the context of insurance policies. Limited plans usually offer protection against a narrow set of risks or limited perils, and they provide limited benefits compared to more comprehensive policies.
They do not typically feature very broad or open perils, as their coverage is more restrictive. The characteristic that does not belong in the list of features of limited plans is very broad or open perils, which is more typical of open or all-risk insurance policies. As for notices to the insured, insurance companies are generally required to notify policyholders about important aspects of their coverage, which would include the types of plans, be they limited or not.