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What is insurance premium paid in advance called?
Prepayment of the premium before it is due.
If late payment was to be paid today but wasnt can they reposses today?
if payment due today can it be repossed today
When is your life insurance fully paid?
A life insurance policy becomes "fully paid up" when the company tells you no more premium payments are due.
What is the definition of gross premium?
It is your total premium paid.
Is share premium paid part of paid up capital?
Yes share premium paid is part of paid up capital and shown separately as share premium account in equity section of balance sheet.
Insurance premium paid in advance Is it a accrued expenses?
No, if Insurance premium is paid in advance then it is a Prepayment - current asset.
What is the difference between annual premium and installment premium?
The annual premium is paid once a year and the installment premium is usually paid monthly and usually has additional fees added which costs more than the annual premium.
What is a paid up insurance policy?
A paid up insurance policy is a life insurance policy under which all life insurance premiums have already been paid, with no further premium payments due on the policy.
What is the premium added as a compensation for the risk that an investor will not get paid in full?
maturity risk premium
Can health insurance force you to pay for the grace period?
All insurance policies have a due date on which the periodic policy premium is payable. However, most also have a grace period, which is a stated number of days (often, 10) beyond the due date, during which the premium may be paid and will be accepted by the insurer without penalty. If the premium is not paid by the time that the grace period expires, the policy will in most cases expire or be cancelled for nonpayment of premium. An exception to this result may be when, in the case of whole life insurance, there is an accumulation of cash value. In that case, the unpaid premium may be paid from the accumulated cash value so as to keep the policy in force for a further period of time.
What is the amount paid periodically for insurance?
Premium
What does the word premium mean?
Premium is an amount to be paid for an insurance policy or something given as an award.
