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In Pro Rate cancellation , the insurer will not charge a penalty premium and the return premium is the premium for the unexpired term of the policy.
While in Short Rate cancellation , the insurer charge for a penalty premium as the cancellation is due to insured request . The Insurer keeps a percentage of earned premium to cover its costs.
What else can I help you with?
Difference between rack rate and nett rate?
i can't.
What is the difference between fix and variable mortgages?
The difference between fixed and variable mortgages are that in a fixed mortgage, the rate can not change. In a variable mortgage, the rate changes with time.
What is Difference between Base Rate and prime rate?
The prime rate is the rate at which the central bank lends to the commercial banks whiles the base rate is the rate at which the commercial banks lend to the public
How do you calculate the treasury bill rate?
The treasury bill rate is calculated by taking the difference between the face value of the bill and the price it is sold for, then dividing that difference by the price of the bill and multiplying by 100 to get the percentage rate.
What is the difference between A variable rate home loan and a fixed rate home loan?
The lender can change the rate on a variable rate loan. A fixed rate stays the same for the life of the loan.
Difference between rate constant and specific rate constant?
There is no difference between them they are same rate constant is another name of specific rate constant
What is the definition of short rate cancellation?
[[short rate]] is a penalty method of calculating return policy when it is cancelled by the policy holder prior to the expiration date of the policy. <p> This is calculated using either a [[online wheel calculator]] or using a paper wheel.
What is the difference between mortality rate and death rate?
mortality rate - death rate
Difference between rack rate and nett rate?
i can't.
What is one difference between the total fertility rate and the rate of natural increase, and can you describe it?
The main difference between the total fertility rate and the rate of natural increase is that the total fertility rate measures the average number of children a woman is expected to have in her lifetime, while the rate of natural increase calculates the difference between the birth rate and the death rate in a population.
What is the difference between yield and coupon rate?
The difference between the coupon rate and the required return of a bond is dependent upon the type of bond. Junk bonds will have the biggest difference between its return and the coupon rate.
What is the difference between fix and variable mortgages?
The difference between fixed and variable mortgages are that in a fixed mortgage, the rate can not change. In a variable mortgage, the rate changes with time.
What is the difference between flat rate and reducing rate in banking?
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What is the difference between rate of change and slope?
Slope is blah. Rate of change is blah.
What is the difference between mortality rates and death rates?
mortality rate - Death Rate
What is the difference between a unit rate and rate?
A rate is something that happens frequently, while a unit rate is an individual digit.
Does the tea cool at a constant rate?
The rate that tea cools will change with the temperature difference between the tea and the ambient temperature. The larger the difference between the two, the faster the rate will be. As the tea cools closer to room temp, the rate of cooling will decrease.
