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The premium is the cost that you must pay to have the insurance.
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∙ 9y ago
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What branch of insurance was unearned premium started?
Life
Which has a higher premium life insurance or endowment policies?
Endowment policies. In normal life insurance policies, if you outlive the policy term you wont get any money. Whereas, in case of endowment policies, the insurance company returns a big % of your insurance premium to you at the end of the tenure. So, these policies are much higher in terms of premium when compared to regular or pure-term life insurance policies.
WHAT policy provides the most life insurance for the same premium?
Term insurance will provide the highest benefit for the same premium, but for a limited period of time (hence the name - TERM).
Where can someone get a premium life insurance policy?
The places to get a premium life insurance policy are many. Among some of the more popular choices are: LV, Post Office, Sun Life, Aviva, Scottish Widows and many more.
A higher deductible will usually mean a lower premium?
yes a higher deductible means a lower premium.
What does ceded insurance premium mean?
What does ceded premium mean
Does insurance premium mean monthly?
No. The premium is the price you pay for the coverage. Depending on your insurance company, the premium may be paid all at once or in payments.
What does the word premium mean?
Premium is an amount to be paid for an insurance policy or something given as an award.
Does having three accidents mean your insurance will be canceled?
No, the insurance company will not cancel your insurance for having three accidents, but they will increase your insurance premium.
What is a single premium life insurance?
single premium life insurance: Single premium life insurance is a form of life insurance that's paid with one upfront lump-sum premium. Once you've purchased a single premium policy, you would receive a permanent death benefit that extends until you die.
What does the term 'premium volume' mean?
The term premium volume is a measure of in-force business in a health insurance company. In-force business refers to the aggregate total of insurance policies which are being paid that a health insurance firm has on its record.
What is the journal entry for payments of insurance premium?
debit insurance premium expensecredit cash / bank
Which of these will not cause your insurance premium to be higher?
Having a high deductible will not cause your insurance premium to be higher.
What is premium loading in insurance?
Premium loading is an amount an insurance company adds to the basic premium to cover the expense of securing and maintaining the business.
What is a car insurance premium?
A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.
Where can one find premium insurance?
When you are on the hunt for premium insurance, where to look will depend on the type of insurance you need. If you want premium health insurance you should look for companies like United Health or Wellpoint. If you are in the market for premium life insurance you should try companies like American General, or Allstate.
What does net of commission mean?
"Net of commission" basis is where the quoted premium is reduced by an amount proposed to be the insurance agent's (or insurance broker's) commission.
