answersLogoWhite

0


Best Answer

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

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the title of a person in an insurance company who calculates the premium?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Calculus

What is the capacity of the person in an insurance company that calculates premiums?

An actuary is a highly skilled mathematician. He/she is employed by insurance companies to calculate insurance rates. Rates are the cost of insurance per $1000 of coverage. Premiums derive from rates such that multiplying the rate times the amount of insurance (in thousands of dollars) results in the premium.An actuary calculates insurance rates. A rate is the cost per $1000 of coverage. Therefore, the premium is calculated by multiplying the amount of coverage times the rate. Accordingly, indirectly, an actuary calculates the premium.


What factors are considered when using a retirement planning calculator?

age time on the job pay if it is salary or commission and if the person has invested in the company.


When you sell a call option who gets the dividend?

Dividends don't play into call options. If you sell a covered call and it expires worthless, you'll receive any dividends from the stock because you still own the stock. If it's exercised, the new owner receives them because the stock is hers now. The money that changes hands when you sell a call is the "premium," and the person who sells the call gets that.


Explain carefully the difference between writing a put option and buying a call option?

When you write a put option, you are player banker to someone betting that the price of a stock is going up. You receive the "bet" in the form of the options premium earned form the person buying the put options from you. If the stock fails to exceed the strike price of the put options by expiration, the buyer has lost the bet and you keep the "bet" money as profit. In this case, your profit is limited to the "bet" money or options premium you received for selling the put options. When you buy a call option, you are buying the right to buy a stock at a fixed price until expiration. If you buy a call option with strike price of $10 and the stock subsequently went up to $50, you can still buy the stock at $10 and then sell it for $50, making the $40 difference as profit. In this case, your profit is only limited to how high the stock rises.


What does maturation means?

When a life insurance policy matures, this means that it has reached the insured amount. For example, if someone were to take out a $25,000 life insurance policy and continue to pay the premiums, once the policy reached the $25,000 with the payments and dividends, it will have matured.

Related questions

What is the capacity of the person in an insurance company that calculates premiums?

An actuary is a highly skilled mathematician. He/she is employed by insurance companies to calculate insurance rates. Rates are the cost of insurance per $1000 of coverage. Premiums derive from rates such that multiplying the rate times the amount of insurance (in thousands of dollars) results in the premium.An actuary calculates insurance rates. A rate is the cost per $1000 of coverage. Therefore, the premium is calculated by multiplying the amount of coverage times the rate. Accordingly, indirectly, an actuary calculates the premium.


What is the title of the person in an insurance company who calculates the amount of compensation to be paid?

A claims representative or claims adjuster fits this description.


What does the term actuaries actually mean?

The term actuaries refers to a person who calculates the insurance risks and and premiums. They have to judge the risks regarding life insurance to work out the premiums they should give to that person or company.


What is life insurance premium financing used for?

Premium finance is a convenient way to pay for your insurance premiums. Instead of paying a large sum upfront, you can spread the payment by paying in installments. Orchard funding is an insurance premium finance company in the UK providing the best services. Contact us or visit our website for more information.


Can a person put another person on their insurance?

If it is Life Insurance, you can select any person you want as beneficiary. If it is Health Insurance, you can add a spouse and/or dependents. This will change your premium so you need to contact your Insurance Company for forms and approval.


What is the term used for the insurance worker who calculates the statistics?

That person is called an actuary.


A fire insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?

An insurance premium is the amount that the buyer pays the company monthly or annually which keeps the policy in effect. If a person paid a 780 dollar annual premium which was canceled after 5 months, they would be owed a 455 dollar refund.


Can an insurance company deny health benefits to a spouse if they are employed?

Typically, if a person is insured under a company's group insurance plan it is up to the company as to how much of the premium the company wants to pay toward the employee's insurance. If the employee has a spouse it is also the choice of the company as to how much, IF ANY, the company will pay toward the spouse's premium. The company is not required to pay anything toward the cost of the spouse or children. In many cases, the spouse and children. or more precisely, the employee him/herself. must pay the additional premium.


What is an insurance reinstatement?

When a insured person is not able to pay his/ her premium on time then his/her policy got surrendered by the insurance company. If after some time that insured person comes to company and ask to revive the policy then this revival/ reactivation is called reinstatement of the policy.


Is it better to get individual insurance?

Usually one person can obtain insurance more inexpensively than a group of people can. More people requires more risk, so the insurance company will charge a higher premium.


Will your insurance premium increase if you scratch another car and claim it?

Any claims made against your insurance company can result in an increase in your premium. If it's just a scratch, it would be better to settle with the person with an out of pocket payment if at all possible. Be sure to get a quote with the person (both parties present at time of quote).


What is a person trained in mathematics who calculates risk based on loss percentages and determines insurance rates and premiums?

An Actuary.