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LSDefine

Simple English definitions for legal terms

net premium

Read a random definition: Grand Day

A quick definition of net premium:

A net premium is the amount of money that a person pays to keep their insurance policy active. It is the portion of the premium that covers the estimated cost of claims and does not include additional expenses or commissions. The net premium for life insurance is calculated using an assumed interest and mortality-table rate. Earned premium is the portion of the premium that has already expired, while unearned premium is the portion that has not yet occurred.

A more thorough explanation:

Definition: The amount of money required to keep an insurance policy in effect, after deducting agent commissions and expenses.

Examples:

  • Earned premium: The portion of the premium that applies to the coverage period that has already expired. For example, if a one-year insurance policy costs $1,200, the earned premium after three months is $300.
  • Unearned premium: The portion of the premium that applies to the coverage period that has not yet occurred. Using the same example as above, the unearned premium after three months is $900.
  • Net single premium: The amount of money required to be paid at once to guarantee enough money to pay claims made on an insurance policy, assuming interest accrues at an expected rate and based on a prediction of the likelihood of certain claims.

These examples illustrate how the net premium is calculated and how it differs from other types of premiums, such as earned and unearned premiums. The net premium is the amount of money needed to provide benefits under an insurance policy, after deducting agent commissions and expenses.

net position | net present value

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
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
18:48
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
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