Best Answer

Indeterminate premium life insurance is a type of whole life insurance that specifies two premium rates: a guaranteed maximum, and a lower rate you actually pay. The lower premium level is for a set period of time. Then the company establishes a new rate that may be higher or lower than the initial premium. But your premium can never be more than the guaranteed maximum.

User Avatar

Wiki User

โˆ™ 2003-10-16 00:00:00
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is indeterminate premium life insurance?
Write your answer...
Related questions

What is Modified premium life insurance?

Indeterminate premium

What is a single premium life insurance?

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.

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.

What is the journal entry for life insurance policy premium paid?

Life insurance a/c......... Dr to cash a/c

Can you purchase life insurance in a lump sum single payment?

Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.

How does universal life insurance differ from other forms of life insurance?

Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.

What is flexible premium multifunded life insurance?

explain flexible premium multifunded life ins.

Is a flexible premium multifunded life insurance an annuity?

Its a Universal life insurance Policy.

What are some insurance companies that offer single premium whole life insurance?

Some Insurance companies that offer single premium whole life insurance are K&K Insurance, MetLife and Jackson National Life. Others are Mutual of Omaha or AXA Insurance.

How can one obtain premium whole life insurance?

One can obtain premium whole life insurance through their current insurance company. Several companies such as TD Insurance and BMO Insurance, offer great rates.

What is the average return of premium life insurance?

Return-of-premium life insurance is like an ordinary life insurance policy, but payments made on premiums are returned to the insured individual if the policy ends and they are still alive. Thus, return-of-premium life insurance policies do not punish one for outliving their life insurance. The average such policy might cost 25% to 50% more in premiums, compared to an ordinary life insurance policy.

What is the journal entry for life insurance policy premium paid for proprietor?

debit insurance premiumcredit cash / bank

When it comes to life insurance premium refers to?

a total cost of insurance coverage

Can you pay your life insurance premium online?

Contact your life insurance company and they can tell you if you can pay online

Can a corporation deduct the life insurance premium for its president?


What branch of insurance was unearned premium started?


How do you calculate premium for life insurance policy?

You can calculate life insurance premium for a life insurance policy by requesting free life insurance quotes online or from a life insurance company. Rates for life insurance vary by insurer. Some of the factors that insurers consider when determining your premium include the following: Age, gender, height-to-weight ratio, amount of coverage, type of policy, smoker/non-smoker, your health, your family's health history, etc.

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.

What is Definition of flexible premium life insurance?

should the buyer of flexible premium adjustable universal life insurance take the interest monthly or quarterly or shoule they turn it over

What is return of premium?

Return of premium life insurance is a type of term life insurance policy that returns the premiums paid for coverage if the insured party survives the policy's term.

Which of these is an element of limited payment life insurance?

this life insurance policy has premium payment for a set number or years....

What is an annual premium for life insurance?

Single Premium Life Insurance policy is good for those who can pay a lumpsum in a single stroke. Like conventional life insurance policies, this policy too provides a security umbrella to the policy holder until the full policy term. Buy Single Premium Life Insurance Policy : insuringindia ‪#‎SPLPolicy‬ ‪#‎LifeInsurance‬ @insuringindia

What is featured in the premium life insurance package?

A premium life insurance package have many different features compared to standard insurance packages. Depending on the insurance provider, it will vary on what extra features are included, and therefore it would be best to inquire to local insurance providers what they are.

What is the basic insurance premium for members of FEGLI the Federal Employees' Group Life insurance Program?

The basic insurance premium for the members of FEGLI, the Federal Employees' Group Life Insurance Program is 3%, which can be higher or lower depending on your health.

Is Term-life insurance available with a single payment premium?

As if nw not avilable..before ULIPS launched in market there is Term life insurance plans with single premium avilable