Level Premium at Insurance Glossary
What is it? A premium which remains unchanged throughout the life of a policy, example level term insurance and long term care insurance.Insurance Dictionary Term Added By: Joshua
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Other Similar Insurance Terms:
Insurance Term Underwriting is The process of selecting risks and classifying them according to their degrees of insurability so that the appropriate rates may be assigned. The process also includes rejection of those risks that do not qualify. (G)Insurance Term Premium Deposit is See Deposit Premium. (G)
Insurance Term Disability Benefit is The payment, made usually monthly, payable to participants under a Disability Income policy or a provision of some other policy.
Insurance Term Triage is A method of ranking sick or injured people according to the severity of their sickness or injury in order to ensure that medical and nursing staff facilities are used most efficiently.
Insurance Term Dividend is An amount of money returned to the holder of a participating policy. The money is partial refund of the premium paid. It results from actual mortality, interest and expenses that were more favorable than expected when the premiums are set.