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As the name implies, it is the payment for an insurance policy by an individual considered as a prospective policyholder after applying for an insurance policy.
Insurance contract are usually followed when the individual's application is finally reviewed and accepted. For most insurance companies, the least premium that can be paid as at the time of application for the insurance policy is per month.
The validity of premiums deposited can be determined by the number of months allocated for such premiums and the duration an assured is covered as at the time the policy is in force.
Insurance contract are usually followed when the individual's application is finally reviewed and accepted. For most insurance companies, the least premium that can be paid as at the time of application for the insurance policy is per month.
The validity of premiums deposited can be determined by the number of months allocated for such premiums and the duration an assured is covered as at the time the policy is in force.
Posted in: Glossary of Auto Insurance (D)
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