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What percentage of a typical auto insurance premium dollar is used to pay losses?
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∙ 12y ago
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∙ 12y ago
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What is the average life insurance premium for a healthy young adult?
The average life insurance premium for a healthy young adult is typical between pennies a day and a dollar a day. If you are paying anymore than a dollar a day on life insurance as a healthy young adult you should consider switching policies because you are getting a terrible costly deal when there are much better options available to a person of your nature.
What is the average premium for a million dollar liability insurance policy?
several hundred dollars
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.
What term refers to the amount you or your employer pays in exchange for insurance coverage?
The premium is the dollar amount paid in exchange for insurance coverage.
What percentage of a typical homeowners insurance premium dollar is used to pay losses?
This changes from company to company and year to year. For the past few years it has been over 100% for most companies. State Farm has been loosing billions each year for the past several years. Insurance companies often loose money on claims and hope to make up for some or all of it by investing the premiums.
What is a flat extra premium on a life insurance policy?
flat extra premium methodIn life insurance, if a person does not meet health or other qualifications, insurance can be declined or rated. The flat extra premium method of rating the life insurance policy charges an extra flat dollar amount per $1,000 of policy value.http://ahtins.com/glossary/fff/f132.htm
What is difference between a fee and commission?
A commission is compensation received by a broker or insurance agent paid by the insurance company and is a percentage of the insurance premium, or a percentage of a portion of the insurance premium. A fee, on the other hand, is a fixed dollar amount (not a set percent of the premium) and can be paid either by the party buying the insurance or by the insurance carrier. Often, clients with large premiums, or complex risks negotiate with their broker to provide services, including the placement of insurance for a flat fee. The insurance is than placed "net of" or without commission. Many people feel that this is a more transparent method of broker compensation and eliminates broker bias to higher premiums or carriers which pay a higher commission. In certain circumstances, both a fee and a commission are charged. This usually occurs when the broker is providing services which are not property compensated by the commission in the policy. When a fee is charged in addition to a commission, it should be disclosed who the fee is being paid to, and for what service.
How much is allstates bonus check?
up to 5% of your 6-month insurance premium. So if you pay 500 dollars every 6 months, then you receive a 25 dollar credit towards your next 6-month premium.
If a car insurance company told me my six month premium in 400 dollars how much do i have to pay a month?
While a 400 dollar payment breaks down to 66.67 dollars per month, the insurance will charge more. you will be paying them a fee for financing the insurance payments.
How much can you expect your auto insurance premium to increase if you totaled your 13000 dollar car due to skiding on the highway and no other car was involved?
Was it icy? Call and ask your agent!
On Illinois Property insurance does earthquake insurance have a deductible?
Yes, normally there is a percentage deductible instead of your regular flat dollar deductible. Most companies offer 5%, 10% and 20% deductibles that will never be less than a specific dollar amount, usually $500. The percentage is multiplied against your Coverage A or Coverage C (if you have a Tenant or Condo-owner policy)amount.
What is best description of term insurance?
Term life is a kind of life insurance that remains in force for the amount of time (the "term") stated in the policy. At the end of the term, coverage of the policy ends. In its usual form, term insurance does not accumulate cash value, like whole life insurance. Cash value can be likened to a "savings account" within the policy into which a small part of every premium dollar is deposited. Unlike this, the premium for a term policy is tied more directly to the actual cost of providing the death protection. Therefore, term insurance is generally less costly than whole life insurance. purchased for a certain time period with a specific premium cost a+ ^
