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LSDefine

Simple English definitions for legal terms

net premium

Read a random definition: diminished capacity

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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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