answersLogoWhite

0


Best Answer

When you're doing simple base premium, just multiply the base premium byt the rating factor. So 109.20 x 1.95, which is 212.94.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Calculate the annual premium for a policy with a base premium of 109.20 when the rating factor is 1.95?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Basic Math

How do you calculate premium for life insurance policy?

You can calculate life insurance premium for a life insurance policy by requesting free life insurance quotes online or from a life insurance company. Rates for life insurance vary by insurer. Some of the factors that insurers consider when determining your premium include the following: Age, gender, height-to-weight ratio, amount of coverage, type of policy, smoker/non-smoker, your health, your family's health history, etc.


What is basic life insurance?

Term insurance without any optional rider is considered to be the most basic type of life insurance. You purchase protection for a certain amount of time, after which the policy terminates. You have a fixed premium that does not change until the end of your term policy. You then have the option to terminate, or convert the term to a permanent form of life insurance. Term Assurance Policy is the basic life insurance policy.This is the cheapest pure life risk plan. On maturity, no amount will be paid to the policy holder. On any eventuality of the policy holder during policy term, sum assured amount will be paid to the nominee.


How is insurance replacement cost for jewelry calculated?

depends on policy - read "loss settlement provision" on the policy you are considering


Is policy number or group number same?

Not usually: the group number is assigned to your employee pool, and your policy number is specifically for an individual (you).


If the beneficiary of a term life insurance does not know the benefit amount will the insurance tell you the amount of the policy?

== == == == The life insurance policy will state the face value ( death benefit ) of the policy. However, it may not state the amount that each beneficiary will receive as the number of beneficiaries may have changed since it was issued. Until a claim is paid, the beneficiaries will not know how much they'll receive.

Related questions

What is annual renewable term insurance?

It implies that it is not a single or one-time premium policy and you are pay annualized premium for the renewal of the term policy.


A fire insurance policy has an annual premium of 780 what is the regular refund if the policy si canceled by the insurance company after five months?

Premium = insured value / $100 * Rate


A fire insurance policy had an annual premium of 780 What is the regular refund if the policy is cancelled by the insurance company after 5 months?

You are due a refund of of all unearned premium. Associated policy production fees are nonrefundable.


A fire insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?

An insurance premium is the amount that the buyer pays the company monthly or annually which keeps the policy in effect. If a person paid a 780 dollar annual premium which was canceled after 5 months, they would be owed a 455 dollar refund.


A property insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?

They are required to refund any unearned premium portion. Policy fees and the like are considered fully earned.


How do you figure the amount of premiums paid into life insurance policy?

The premium is calculated on the basis of many factors. The insurance company will calculate the premium and inform you before you buy the policy.


When you use the annual dividends to pay the annual premium on a life insurance policy what are the possible implications Can you use the accumulated cash values to pay the annual premiums if so what?

No you can't do that.


What is an annual premium for life insurance?

Single Premium Life Insurance policy is good for those who can pay a lumpsum in a single stroke. Like conventional life insurance policies, this policy too provides a security umbrella to the policy holder until the full policy term. Buy Single Premium Life Insurance Policy : insuringindia ‪#‎SPLPolicy‬ ‪#‎LifeInsurance‬ @insuringindia


If James is 42 years old and opted for a 20 payment life insurance policy of 200000 what is his annual premium?

$10,000.00


If there is a policy that is three months old and you cancel it will there be any money back?

Depends on the mode of premium...that is, did you pay an annual (yearly) premium, a semi-annual, quarterly or monthly premium? Whichever mode you used, the insurance company will (should) refund the "unearned" amount you paid. For instance, if you paid an annual premium (12 months), and you cancel after just three months of coverage, then you should receive a refund equal to nine (9) months woth of premium, etc.


Is it possible for one beneficiary to receive the entire pay out of an insurance policy if there were multiple beneficairies?

1. The principle of indemnity does not apply to life insurance policies. 2. Declaration at the end of the proposals is a warranty. 3. The claim payable will depend on the Sum Assured. 4. A person who has just taken up his first job needs life insurance. 5. The annual premium may be less than twelve times the monthly premium. 6. The annual premium for a long term policy is less than for a short term policy. 7. The premium increases as the age of the policy holder. 8. The premium depends on the age of the policy holder. 9. The rate of premium charged can be less than the tabular rates. 10. The premium collected in the early years is more than what is required 11. Premium rates are determined by the actuaries of insures.


What happens when you want to stop paying premium on your item which you have insured?

If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.