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unearned premium

 
Business Dictionary: Unearned Premium

Insurance premium that is paid beyond the current period, so it is not yet earned by the insurer. If the policy is canceled, the insured should receive a refund of the unearned amount.

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Dental Dictionary: unearned premium
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n

That part of the premium applicable to the unexpired part of the policy period.

 
 
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Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Dental Dictionary. Mosby's Dental Dictionary. Copyright © 2004 by Elsevier, Inc. All rights reserved.  Read more