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LSDefine

Simple English definitions for legal terms

deposit premium

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A quick definition of deposit premium:

Deposit premium: The first payment made by someone who wants to be insured. This payment is temporary and will be adjusted later when the final premium is calculated.

A more thorough explanation:

DEPOSIT PREMIUM

The deposit premium is the first payment made by an insured person while waiting for the final premium adjustment.

For example, if you purchase car insurance, you may be required to pay a deposit premium when you sign up for the policy. This deposit is usually a percentage of the total premium and is paid upfront. The insurance company will then adjust the final premium based on factors such as your driving record, age, and the type of car you drive. If the final premium is higher than the deposit premium, you will need to pay the difference. If it is lower, you will receive a refund.

Another example is if you purchase a life insurance policy. You may be required to pay a deposit premium when you sign up for the policy. The insurance company will then use this deposit to cover the initial costs of setting up the policy, such as medical exams and underwriting. The final premium will be adjusted based on factors such as your age, health, and lifestyle habits.

The deposit premium is the initial payment made by an insured person to secure an insurance policy. It is usually a percentage of the total premium and is paid upfront. The insurance company will then adjust the final premium based on various factors, such as the insured person's risk profile. The examples illustrate how the deposit premium works in different types of insurance policies and how it is used to cover initial costs and secure the policy.

Depository Trust Corporation | deposit ratio

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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