Learn what Short Rate Cancellation in general insurance means. Discover how early termination of your insurance policy can lead to higher costs.
Discover the importance of a motor vehicle record in vehicle insurance. Learn how traffic violations and accidents impact your driving history and insurance premiums.
Explore the concept of attained age in life insurance. Learn how the insured's age at a specific date affects policy premiums and benefits.
Comprehensive guide to Manufacturers and Contractors Liability Insurance, covering contractors and manufacturers with premiums based on payroll amounts. Explore the benefits, coverage details, and more.
Learn about Spread Loss Reinsurance, a type of excess loss reinsurance where annual premium rates are based on the ceding insurer's past excess losses.
Explore the concept of Increasing Term Insurance, a unique type of life insurance policy that offers a consistent premium while the death benefit increases over time. Learn how it can provide enhanced financial protection for your loved ones.
Understanding the inflation factor in health insurance: An addition to premiums to account for future inflation in medical costs and loss payments. Get insights on how this affects your health insurance premiums.
Discover what a Tabular Plan is in general insurance, how it functions through rating formulas from various tables, and its significance in insurance rating systems.
Learn about manual excess in liability insurance, an additional premium calculated beyond the liability limit. This involves multiplying the manual rate by specific rate factors to determine the extra cost.
Learn about adjusted premium, a type of insurance premium calculation that includes a net-level premium and first year’s acquisition expenses, important for life annuity contracts.
Understand what collection commission in life insurance is and how it benefits agents. Learn about the portion of premiums paid to agents collecting debt insurance premiums.
Learn about expense constants in general insurance terms. Discover why these charges are added to premiums, especially in workers' compensation policies.
Learn about portfolio runoff in reinsurance, a method where a portfolio is reinsured until all the ceded premiums are paid. Understand its significance and applications.
Learn about prospective rating plans, which use past losses to establish future premiums in general insurance. Understand how this method helps evaluate risks and set accurate premium rates.
Learn about age setback in life insurance, a practice affecting women's premiums based on assumed longer life expectancy, and its legislative implications.
Dive into the concept of experienced mortality in life insurance, which examines the actual mortality rates of a specific group compared to expected mortality. Learn how it impacts life insurance policies and premium calculations.
Dive into the concept of minimum rate in property insurance, a rate assigned to low-peril risks, ensuring cost-effectiveness and adequate coverage for less risky properties.
Learn about what a fully paid policy in life insurance entails, including how a limited payment policy works and the benefits of having a 30-pay life insurance policy.
Learn about the good driver discount in vehicle insurance, including the criteria to qualify and the benefits it offers to safe drivers. Discover how maintaining a clean driving record can lower your premiums.
Understand the implications of a lapsed policy within general insurance terms, including causes, definition, and potential impacts on policyholders.
Explore the concept of Minimum Deposit Policy in life insurance. Learn about first-year loan values, policy benefits, and why it is not commonly implemented.
Learn about prospective rating in general insurance, a method used to calculate future premiums based on past loss experiences.
Learn about 'Rated' life insurance policies, which cost more due to the insured’s existing injuries or health conditions. Understand how rates are determined and what impacts your premiums.
Understand the tax factor in liability insurance and how it impacts the overall premium. Learn how state taxes are covered through this essential component.
Learn about Modified Life Policy, a unique life insurance type with initially lower premiums and subsequent higher rates after a set period.
Learn about payroll deduction insurance, where employees authorize their employers to deduct life insurance premiums from their paychecks. Understand how this convenient method works to secure continuous coverage.
Learn about the Safe Driver Plan in vehicle insurance, where points are assessed for accidents and traffic violations, affecting your insurance surcharge.
Learn about Preauthorization Check Plan in Life Insurance where premiums are paid through a monthly pre-authorized bank draft for easy and convenient payments.
