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net premium n: an insurance premium consisting of the amount required to pay the insurance liability on its becoming due without paying any expenses or contingent charges
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
net premium
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Net premium valuation — A Net Premium Valuation is an actuarial calculation, used to place a value on the liabilities of a life insurer. Background It involves calculating a present value for the contractual liabilities of a contract, and deducting the value of future… … Wikipedia
net premium — noun Etymology: net (III) : an insurance premium consisting of the amount required to pay the insurance liability on its becoming due without paying any expenses or contingent charges … Useful english dictionary
net premium — In life insurance, this term is used to designate that portion of the premium which is intended to meet the cost of the insurance, both current and future. Its amount is calculated upon the basis of the mortality tables and upon the assumption… … Black's law dictionary
net premium — In life insurance, this term is used to designate that portion of the premium which is intended to meet the cost of the insurance, both current and future. Its amount is calculated upon the basis of the mortality tables and upon the assumption… … Black's law dictionary
net premium — The amount of the premium on a life insurance policy less the dividend to which the insured is entitled. Technically, the cost of insurance; the premium charged less the loading for expenses and certain contingencies. Fox v Mutual Ben. Life Ins.… … Ballentine's law dictionary
premium — pre·mi·um / prē mē əm/ n 1: the difference between the face value or par value of a security and its market price when the latter is greater compare discount 2: the price paid for an insurance contract equal to the cost per unit times the number… … Law dictionary
net — adj [Anglo French, clean, pure, from Latin nitidus bright, neat, from nitēre to shine]: remaining after deduction of all charges, outlay, or loss the net proceeds compare gross Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
premium — A reward for an act done. Brown v. Board of Police Com rs of City of Los Angeles, 58 Cal.App.2d 473, 136 P.2d 617, 619. See also bonus A bounty or bonus; a consideration given to invite a loan or a bargain, as the consideration paid to the… … Black's law dictionary
Premium-rate telephone number — Premium rate telephone numbers are telephone numbers for telephone calls during which certain services are provided, and for which prices higher than normal are charged. Unlike a normal call, part of the call charge is paid to the service… … Wikipedia
net valuation premium — n: a premium for a life insurance policy set after a determination of the amount needed to cover liabilities and maintain policy reserves Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
