Define Insurance Premiums. Insurance Premiums synonyms, Insurance Premiums pronunciation, Insurance Premiums translation, English dictionary definition of Insurance Premiums. Noun 1. insurance premium - payment for insurance premium payment - a sum of mo
Legal Definition premium noun pre·mi·um ˈprē-mē-əm 1 : the difference between the face value or par value of a security and its market price when the latter is greater compare discount 2 : the price paid for an insurance contract equal to the cost per unit times ...
Written premiums concern the amount of premium that is charged for a policy. But specifically, it’s for a policy that has already come into effect. This is regardless of what portions have already been earned. A written premium is the main source of revenue for an insurance company. They ...
Insurance.the amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments. Economics.the excess value of one form of money over another of the same nominal value. a sum above the nominal or par value of a thing. ...
premium meaning, definition, what is premium: the cost of insurance, especially the am...: Learn more.
Premium Premium Definition An amount of money paid above the regular price. Submit a Definition
Buyer’s Premiummeans a Commission payable by The Buyer to the Auctioneer. The Auctioneer, when acting as Agent for The Seller, may also receive Mortgage guaranty insurancemeans surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debt...
Twitter Google Share on Facebook minimum premium A cost-plus arrangement for paying for healthcare in the US, in which an employer pays an insurer only part of the premium to be used for administration costs; the rest is set aside by the insurer to pay claims. ...
Premiums are higher for permanent insurance like whole life policies than term life for two primary reasons. The first is that the policy covers the insured for their entire life, and the second reason is that a portion of a permanent life premium is paid into the policy as cash, and can ...
Premiums for insurance include the compensation the insurer receives for bearing the risk of apayoutshould an event occur that triggers coverage. The premium may also contain a sales agent's or broker's commissions. The most common types of coverage are auto, health, and homeowners insurance. ...