Unearned premium,
Definition of Unearned premium:
An unearned premium is the premium amount that corresponds to the time period remaining on an insurance policy. In other words, it is the portion of the policy premium that has not yet been "earned" by the insurance company because the policy still has some time before it expires.
Unearned premiums appear as a liability on the insurer's balance sheet because they would be paid back upon cancellation of the policy.
An insurance premium that is paid by the customer in advance and which the insurance company has not earned. In the event the customer policy is canceled, a full refund of the unearned amount is due back to the customer.
How to use Unearned premium in a sentence?
- Unearned premium is the portion of the policy premium that has not yet been "earned" by the insurance company because the policy still has some time before it expires.
- In certain circumstances, an insurance company may not have to issue a refund for unearned premium.
- Provisions in the insurance contract govern the terms for unearned premium.
Meaning of Unearned premium & Unearned premium Definition
Unearned Premium,
Definition of Unearned Premium:
The advance premium is the premium amount received which is the same as the rest of the term of the insurance policy. This means that this is the part of the insurance premium that the insurance company did not receive because the policy is still due.
- Advance premiums are a fraction of the insurance premiums that were not received by the insurance company as there is still a maturity date in the policy.
- The terms of the insurance contract control the terms of the premium already received.
- In certain circumstances, the insurer cannot be asked to pay unintentional premiums.
The portion of the premium received by the insurance company and which was not covered. The total premium is not collected before the end of the insurance period, although the premium is usually paid in advance.
Literal Meanings of Unearned Premium
Unearned:
Meanings of Unearned:
I do not accept or accept.
Sentences of Unearned
Unannounced Concessions
Premium:
Meanings of Premium:
Amount paid for an insurance policy.
Sentences of Premium
If the calculations are correct, the income of the pensionable worker will have to be paid by the insurance company to the insurance company for equal rights in addition to his salary.
Synonyms of Premium
insurance charge, insurance payment, regular payment, instalment, surcharge, additional payment, extra amount, extra charge, additional fee, bonus, extra, percentage, perk, recompense, remuneration, prize, reward
Unearned Premium,
What is The Definition of Unearned Premium?
Amount of prepaid premium that was not used to purchase coverage. For example, if the policyholder pays the premium six months in advance, but cancels the policy after two months, the company must repay the premium for the remaining four months that was not received.
Part of the insurance premium that the policyholder intends to repay at the end of the policy.
Definition of Unearned Premium: The portion of your reward that remains for the duration of your contract. For example, with a six-month premium, the insurance company will not receive one-fifth of the premium at the end of the first month of the premium period.
The definition of Unearned Premium is: Amount of prepaid premium that was not used to purchase coverage. For example, if the policyholder has already paid the premium six months in advance, but cancels the policy after two months, the company will have to pay the remaining four months of the unpaid premium.
Unearned Premium,
What is The Meaning of Unearned Premium?
The portion of the bonus that the company received, but has not yet received because the policy has not yet expired.
The portion of the premium that was received by the insurance company and received no protection.
Unearned Premium can be defined as, The portion of the contract premium that represents the term of the contract that has not expired.
The premiums paid by the insured, but not yet covered.
Proportionate to the bulk of the insurance, the premium is equal to the remainder of the policy, so will appear as a liability in the insurance books.
Unearned Premium,
What is The Definition of Unearned Premium?
Transfer premium is the premium amount that is equal to the remainder of the insurance policy. In other words, this policy is the portion of the premium that the insurance company did not receive because there is some time before the policy expires.
- The premium transfer policy is part of the premium that has not yet been insured as there is still time before the policy expires.
- The provisions of the insurance contract control the condition of the premium which has not yet been revenued.
- In some cases, the insurer may not be required to pay premiums that have not yet been paid.
Definition of Unearned Premium: The portion of the premium received by the insurer which was not insured. Total premiums are stable only when the policy expires. Even the highest premiums are usually paid in advance.
The amount of prepaid premium that was not used to meet. For example, if the policyholder paid the premium six months ago, but canceled the contract two months later, the company would have to pay the remaining four months' premium, which has not yet been received.
Unearned Premium means, A portion of your premium remains during the term of your policy. For example, with a six-month premium, the insurer does not earn one-fifth of the premium at the end of the first month of the premium.
Unearned Premium can be defined as, The amount of prepaid premium that was not used to meet. For example, if the policyholder paid the premium six months ago, but canceled the contract two months later, the company would have to pay the remaining four months' premium, which has not yet been received.
Part of the premium that the company received but has not yet been earned because the policy is not over yet.
The definition of Unearned Premium is: Part of the premium received by the insurer for which there is no insurance coverage.
Unearned Premium can be defined as, The portion of the insurance premium that represents the term of the contract that has not yet expired.
Literal Meanings of Unearned Premium
Unearned:
Meanings of Unearned:
Get it or not
Sentences of Unearned
Unused Concessions.
Premium:
Meanings of Premium:
Amount payable under the insurance contract.
Price or value added to the general price.
Sentences of Premium
Consumers are reluctant to pay too much for organic fruits.
Synonyms of Premium
extra amount/charge, perquisite, inducement, incentive, bounty
Unearned Premium,
Definition of Unearned Premium:
Unearned Premium refers to The carryover premium is the premium amount for the remainder of the insurance policy. In other words, this policy is the portion of the premium that the insurer has not received because there is some time before the policy expires.
- The premium transfer policy is part of the premium that has not yet been insured as it still has time before the policy expires.
- The provisions of the insurance contract regulate the condition of premiums from which no income has yet been earned.
- In some cases, the insurer does not need to pay premiums that have not yet been earned.
Unearned Premium definition is: The portion of the premium received by the insurer which was not insured. The total premium is accrued only after the expiry of the policy. Even the highest premiums are usually paid in advance.
The amount of prepaid premium that was not used to cover. For example, if the policyholder paid the premium six months ago, but canceled the contract after two months, the company would have to pay the remaining four months premium that has not yet been earned.
Unearned Premium refers to The remaining portion of your premium during the term of your policy. For example, with a six-month premium, the insurer does not earn five-sixths of the premium at the end of the first premium month.
Literal Meanings of Unearned Premium
Unearned:
Meanings of Unearned:
Get or not get.
Sentences of Unearned
Unearned benefits
Premium:
Meanings of Premium:
Cost or price included in the general price.
Sentences of Premium
The Société des Arts gave him a bonus.
Unearned Premium,
How To Define Unearned Premium?
The portion of the premium that the company received but has not yet been earned because the policy is not over yet.
Part of the premium received by the insurer for which no protection was provided.
The portion of the insurance premium that represents the term of the contract which has not yet expired.
Definition of Unearned Premium: The amount of prepaid premium that was not used to cover. For example, if the policyholder paid the premium six months ago, but canceled the contract after two months, the company would have to pay the remaining four months premium that has not yet been earned.
