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LSDefine

Simple English definitions for legal terms

net premium

Read a random definition: civilista

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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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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