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The premium is the cost that you must pay to have the insurance.

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โˆ™ 2014-06-09 20:06:53
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Q: What does insurance premium mean?
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Related questions

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.


What is the difference between life insurance premium and non life insurance premium?

An insurance premium is the amount of money paid on a periodic basis for insurance of a given kind. The kind of insurance involved does not alter the definition of the term "premium". Therefore, a life insurance premium is an incremental amount paid for life insurance, and a non-life insurance premium is an incremental amount paid for another kind of insurance.


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 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 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 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 the title of a person in an insurance company who calculates the premium?

An Actuary is the person in an insurance company who calculates the premium


What is gross premium car insurance?

Gross Premium is the Total premium indicated to be charged.


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.


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 average premium for md car insurance?

In 2009 the average auto insurance premium for residents in Maryland is $2,295.


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.


What is a payment for insurance called?

A premium


Where can one find information about premium insurance?

You can find information about premium insurance on insurance provider's websites. Some of these include Geico, Allstate, or Nationwide. On them you can find how to buy the insurance.


What is insurance premium paid in advance called?

Prepayment of the premium before it is due.


What does Net of Commission mean. can anyone help to define please?

In insurance, it is the policy premium without the producer or broker's commission. So, if your premium is $100,000 and commission is 7%, Gross Written Premium is $107,000. Your premium net of commission is $100,000.


What is 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.


How long pay insurance premium to Insurance Company after truck accident?

You will continue to pay insurance premium to renew the policy,irrespective of the claim to be submitted after truck accident.


What is sum assured in insurance policy?

premium


What is the amount paid periodically for insurance?

Premium