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Simple English definitions for legal terms

natural premium

Read a random definition: willful homicide

A quick definition of natural premium:

A natural premium is the actual cost of life insurance based solely on mortality rates. It is the amount of money that an insurance company needs to collect to pay out claims based on the likelihood of certain events happening. This amount is calculated without including any additional expenses or commissions. It is important to understand the natural premium when purchasing life insurance to ensure that you are getting the best value for your money.

A more thorough explanation:

Definition: The actual cost of life insurance based solely on mortality rates. This amount will be less than a net premium.

Example: Let's say a 30-year-old non-smoker wants to buy a life insurance policy with a death benefit of $500,000. The insurance company calculates the natural premium based on the person's age, gender, and health status. If the natural premium is $500 per year, the net premium (which includes expenses and profit for the insurance company) might be $700 per year.

Explanation: The natural premium is the minimum amount an insurance company needs to charge to cover the expected cost of claims based on mortality rates. It doesn't include any additional expenses or profit for the company. In the example, the insurance company might charge a net premium of $700 to cover its expenses and make a profit. The difference between the natural premium and the net premium is the loading, which is the amount the insurance company adds to cover its expenses and profit.

natural possession | natural presumption

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General

General chat about the legal profession.
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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
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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