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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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18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
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true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
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