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The formula for calculating insurance premium uses the DRF and the 6-month basic rate. It is:

p = 2rb

where p is the annual premium, r is the DRF, and b is the 6-month basic rate.

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14y ago

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What is the formula for annual premium?

Annual Premium= Annual Base Premium * Driver-Rating Factor To get annual base premium the formula is... Annual base Premium= Liability Premium + Collision Premium + Comprehensive Premium.


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.


How do you calculate premium in life insurance?

First, decide the amount of insurance that you need. Then you will find rates according if you are male or female. Rates can change according to your age, health habits, and if you are a smoker or not. Multiply your rate number by the number of thousands of insurance that you want.


How many times do you have to pay the premium?

The number of times you need to pay the premium typically depends on the terms of your insurance policy. Most policies require premium payments on a monthly, quarterly, or annual basis. If the policy is canceled or lapses, you may need to pay the premium again to reinstate coverage. Always refer to your specific policy documents for details on payment frequency and requirements.


What is the formula for changing degrees centigrade to degree Fahrenheit?

Fahrenheit = Celsius * 9 / 5 + 32For example, the calculation from 30 celsius to Fahrenheit : Fahrenheit = 30 * 9/5 + 32 = 86

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Which of these will not cause your insurance premium to be higher?

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What is the formula for annual premium?

Annual Premium= Annual Base Premium * Driver-Rating Factor To get annual base premium the formula is... Annual base Premium= Liability Premium + Collision Premium + Comprehensive Premium.


What is premium loading in insurance?

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