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It is based upon the policy itself. You probably don't want to renew a term policy after the initial period of time if you are healthy it will be better for you to get a new policy. New business rates will be much better than what is set up within the policy for renewal periods.
What else can I help you with?
What is an economic policy based on a nations wealth?
Mercantilism
Fiscal policy based on social justice?
anan
What is the advantage of reinstating a policy instead of applying for a new one?
For some life insurance, age at inception determines the premium or acceptance. For other forms of insurance, the basis for insurance or premiums may have changed and might not extend to older existing policies. Some auto insurance policies have discounts based on continuous service period.
How much are short term disability premiums on average?
The premium cost will vary based upon your age, the industry of your employer, the length of the benefit period and elimination period you select, and whether you want on the job coverage. The best policy for a person under the age of 50 is about $10 per month per $100 of monthly coverage. For example, a policy with a $5,000 per month benefit will cost you about $500 per month. Your late will be lower if you work in a lower risk industry.
Most theories on modern fiscal policy are based on the works of which economist?
John Maynard Keynes
What are the car insurance renewal quotes available for my policy?
To find out the car insurance renewal quotes available for your policy, you should contact your insurance provider directly. They will be able to provide you with the specific quotes based on your policy details and any changes that may have occurred since your last renewal.
What is target premium?
Target premium is the amount that the agent's commission is based off of. It is neither the planned premium or minimum premium to keep the policy in force. Sometimes called the "commissionable premium."
How do you annualize prorated premium?
To annualize a prorated premium, you first determine the total premium for the full policy term and then divide it by the number of months covered by the prorated amount. Multiply the resulting monthly premium by 12 to convert it into an annual figure. This method gives you the equivalent annual premium based on the prorated amount, allowing for an accurate comparison with other policy options.
What if an adjustable target life insurance policy?
WHAT???? Updated: I think the asker meant what IS an adjustable target LI policy. An adjustable premium life insurance product is universal life. These terms are synonomous. The feature of this type of product is that the insured can pay more or less (not less than the minimum premium in the first five yrs of policy) and thereby increase the death benefit or the length of guarantee. The target premium is a amount based upon the calculations made at the time of the illustration. It takes into account the premiums, death benefit and product specs. Target premium is sometimes called the commissionable premium, because the agent's commissions for that policy are based off of it.
Can an insurance company cancell your cottage insurance without reason?
No. Why would an insurance company cancel your policy without any reason? Depending on the state that you live in and the regulations in your state will determine how and under what circumstances a company would cancel your insurance policy. Normally they have to give you a certain amount of notice before cancelling your policy. For instance, if you fail to pay your premium the notice would be 10 days from the date they mail you the notice. If you have excessive claims or fail to maintain the property, they would have to non-renew the policy meaning they could not cancel it until the next renewal date and must give you 60 days notice for the non-renewal. Dates and reason vary based on the State you live in and the regulations.
What is initial premium?
The initial premium is the first payment made by a policyholder when purchasing an insurance policy. This amount is typically required to activate the coverage and may vary based on factors such as the type of insurance, the coverage amount, and the policyholder's risk profile. Subsequent premiums are then paid at regular intervals to maintain the policy.
What is a standard insurance policy?
A standard insurance policy is one in which the insured (Person A) pays a regular premium to the insurer (Person B) In the event of the unfortunate demise of person A, person B is bound to pay the insured amount to A's family. The insurance amount would vary based on the premium A paid and his age.
What is the average commission for a health insurance policy?
This varies greatly by company. Generally commission percentages are 15-25% of the first year premium, but some companies (like Blue Cross/Blue Shield) pay lower amounts, and some pay a flat rate per policy instead of being based on premium.
Can an insurance company that issued a general liability policy send a bill pursuant to an audit and request additional premiums on a policy that expired 6 months earlier?
Yes many Liability Policy are subject to audits which occur on policies after the term dates. The reason for this is that the original policy premium is generally based on estimates of of the exposure basis (i.e. payrolls, receipts, etc.) The insurance company is entitled to audit at the end of the policy term to adjust the premium to reflect the actual exposures.
How do you figure a title insurance premium using a risk rate Example 50000 policy based on a risk rate of 30.00 per thousand?
Hi - this is some basic math $50,000.00 insurance policy at a rate of $30.00 per thousand # 50,000 divided by 1000 = 50 # 50 x $30.00 = $1500.00 premium charge
What is a Lapsed Insurance Policy?
The insuring company provides us the insurance policy based on the premium amount we pay them on a regular basis. This can be monthly or quarterly or half yearly or even annual. A policy lapse means that the life insurance contract between the insurer and the insured (YOU) is terminated.
Is a plant renewable or nonrenewable?
A plant and plant based material is considered renewable.
