Asked By: Logan Ramirez Date: created: Feb 17 2022
What do u mean by premium
Answered By: Neil Lewis Date: created: Feb 17 2022
Definition: Premium is an amount paid periodically to the insurer by the insured for covering his risk. Description: In an insurance contract, the risk is transferred from the insured to the insurer. For taking this risk, the insurer charges an amount called the premium.
Asked By: Joshua Hall Date: created: Jan 06 2023
How premium is calculated
Answered By: Cole Cox Date: created: Jan 08 2023
, the premium calculation basis has been changed to a daily basis.
Asked By: Joshua Taylor Date: created: Jan 09 2022
What is an example of a premium
Answered By: Elijah Stewart Date: created: Jan 10 2022
Premium is defined as a reward, or the amount of money that a person pays for insurance. An example of a premium is an end of the year bonus. An example of a premium is a monthly car insurance payment. An unusual or high value.
Asked By: Gabriel Moore Date: created: Sep 16 2022
Who regulates insurance companies in the United States
Answered By: Lewis Young Date: created: Sep 17 2022
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.
Asked By: Abraham Alexander Date: created: Feb 16 2022
Why is it called a premium
Answered By: Ralph Lee Date: created: Feb 17 2022
Broadly speaking, a premium is a price paid for above and beyond some basic or intrinsic value. Relatedly, it is the price paid for protection from a loss, hazard, or harm (e.g., insurance or options contracts). The word "premium" is derived from the Latin praemium, where it meant "reward" or "prize."
Asked By: Carter Hayes Date: created: Feb 04 2022
What is a premium product
Answered By: Jeffery Bryant Date: created: Feb 06 2022
Premium products are typically defined as products that cost 20% more than the average category price. The fact that demand is growing for more expensive products might seem counterintuitive, but it's true.
Asked By: John Edwards Date: created: Feb 04 2023
What type of word is premium
Answered By: Chase Garcia Date: created: Feb 06 2023
Word Type. Premium can be a noun or an adjective.
Asked By: Noah Wright Date: created: Dec 03 2021
Is a premium monthly or yearly
Answered By: Jaden Ross Date: created: Dec 03 2021
A premium is the amount of money charged by your insurance company for the plan you've chosen. It is usually paid on a monthly basis, but can be billed a number of ways. You must pay your premium to keep your coverage active, regardless of whether you use it or not.
Asked By: Joshua Bailey Date: created: Aug 20 2022
What is premium in insurance with example
Answered By: Cyrus Ward Date: created: Aug 20 2022
A premium is the price of the insurance you've chosen, charged by your insurance company. A deductible is an amount you have to pay before your insurance company initiates coverage. For example, if your car insurance premium is $800 per year, you must pay your insurer $800 per year to have the insurance.
Asked By: Gavin Wood Date: created: Aug 07 2022
What does premium mean in marketing
Answered By: Angel Perez Date: created: Aug 08 2022
In marketing, premiums are promotional items — toys, collectables, souvenirs and household products — that are linked to a product, and often require proofs of purchase such as box tops or tokens to acquire. The consumer generally has to pay at least the shipping and handling costs to receive the premium.
Asked By: Oliver Reed Date: created: Feb 16 2023
What does no premium mean
Answered By: Michael Cook Date: created: Feb 17 2023
A zero-premium plan is a Medicare Advantage plan that has no monthly premium. In other words, you don't pay anything to the insurance company each month for your coverage.
Asked By: Kyle Moore Date: created: Feb 28 2023
What is the synonym of premium
Answered By: Gordon Price Date: created: Mar 03 2023
precious, priceless, pricey. (also pricy), spendy.
Asked By: Herbert Mitchell Date: created: Dec 03 2021
What is rating and premium
Answered By: Jayden Johnson Date: created: Dec 03 2021
Rating — determining the amount of premium to be paid to insure or reinsure a risk. Guaranteed cost rates are fixed during the policy period. Loss sensitive rates are those that can be adjusted after the end of a policy period, based upon the insured's actual loss experience.
Asked By: Simon Rivera Date: created: Jan 10 2023
How do you use the word premium in a sentence
Answered By: Miles Edwards Date: created: Jan 12 2023
How to use Premium in a sentence
- We might pay a premium to support a family farm.
- The premium was again issued in 1899.
- It is the premium and the feast which tempt him.
- Indeed, a premium on armed insurrection is virtually granted.
Asked By: Brandon Bryant Date: created: Dec 26 2021
How do you calculate insurance per 1000
Answered By: Francis Perez Date: created: Dec 29 2021
Determining the cost per thousand of the insurance itself is a straightforward calculation: Subtract the cost of the riders and fees and divide your premium by the number of thousands of dollars of death benefit.
Asked By: Edward Bell Date: created: Jan 21 2023
What is the formula of risk premium
Answered By: Malcolm Foster Date: created: Jan 21 2023
The estimated return minus the return on a risk-free investment is equal to the risk premium. For example, if the estimated return on an investment is 6 percent and the risk-free rate is 2 percent, then the risk premium is 4 percent.
Asked By: Jonathan Evans Date: created: Aug 07 2022
What are the types of premium
Answered By: Cody Parker Date: created: Aug 10 2022
Modes of paying insurance premiums:
- Lump sum: Pay the total amount before the insurance coverage starts.
- Monthly: Monthly premiums are paid monthly.
- Quarterly: Quarterly premiums are paid quarterly (4 times a year).
- Semi-annually: These premiums are paid twice a year and are way cheaper than monthly premiums.
Asked By: Raymond Campbell Date: created: Dec 04 2021
How do you explain a premium
Answered By: Hunter Kelly Date: created: Dec 07 2021
Broadly speaking, a premium is a price paid for above and beyond some basic or intrinsic value. Relatedly, it is the price paid for protection from a loss, hazard, or harm (e.g., insurance or options contracts). The word "premium" is derived from the Latin praemium, where it meant "reward" or "prize."
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