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Auditor Insurance Premium
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Premium The payment, or one of a series of payments, required by the insurer to put an insurance policy in force and keep it in force. Premium Deposits Amounts that are left on deposit with the insurer for the payment of future premiums. Premium Receipt A receipt that the sales agent gives to an applicant for insurance in exchange for the initial premium payment and that provides a proposed insured with temporary insurance coverage while the application is being underwritten.
More about Auditor Insurance Premium
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Mode of Premium Payment The frequency with which premiums are paid (for example, annually, quarterly, monthly). Premium Whole Life Insurance A type of whole life insurance in which the policyowner pays a lower than normal premium for a specified initial period, such as five years. After the initial period, the premium increases to a stated amount that is somewhat higher than usual. This higher premium is then payable for the life of the policy.
The Underwriter and You are entitled to choose the law applicable to the insurance contract. The Underwriter chooses English law and, in the absence of any agreement to the contrary, English law shall apply. Premiums and Premium Refunds All premiums include Insurance Premium Tax (IPT), currently levied at 17.5%. transferable. No premium will be refunded, rata basis, back guarantee period. See our Promise of Service for further details.
