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What does insurance premium mean?

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2014-06-09 20:06:53
2014-06-09 20:06:53

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

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Related Questions


What does ceded premium mean


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.


Premium is an amount to be paid for an insurance policy or something given as an award.


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.


No, the insurance company will not cancel your insurance for having three accidents, but they will increase your insurance premium.


Single premium life insurance is life insurance coverage in which one premium payment is made and the life insurance policy is fully paid up with no additional life insurance premium payments required.


debit insurance premiumcredit cash / bank


Having a high deductible will not cause your insurance premium to be higher.


Premium loading is an amount an insurance company adds to the basic premium to cover the expense of securing and maintaining the business.


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.


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.


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


debit insurance premium expensecredit cash / bank


Gross Premium is the Total premium indicated to be charged.


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.


No, if Insurance premium is paid in advance then it is a Prepayment - current asset.


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


"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.


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.




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.


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


Prepayment of the premium before it is due.




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