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An Advance Premium Deposit account is a feature of a policy offered by a Life Insurance company. Think of it as a savings account, where you're free to put in money and take out money. Your life insurance premium will automatically be paid from that account, so that's one less hassle you have to worry about. You get interest on your money, so that's nice. Often you're only allowed to deposit up to the sum of all future premiums. See http://www.americansavingslife.com/policy-sales/advance-premium-deposit-(apd) for an example of one company's advance premium desposit account and read what they have to say about it.
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∙ 14y ago
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Insurance premium paid in advance Is it a accrued expenses?
No, if Insurance premium is paid in advance then it is a Prepayment - current asset.
What is insurance premium paid in advance called?
Prepayment of the premium before it is due.
What is the title of a person in an insurance company who calculates the premium?
An Actuary is the person in an insurance company who calculates the premium
How does no deposit car insurance work?
The cost of the basic premium is cut into nine or twelve equal payments that are to be paid every month for that amount of time. And no deposit is ever required when you have this type of contract with the Insurance company you choose to use for your car insurance needs.
What do you call the payment of the insurance company?
premium
What is premium loading in insurance?
Premium loading is an amount an insurance company adds to the basic premium to cover the expense of securing and maintaining the business.
Can an insurance company charge inflation rates?
Insurance company have premium rates, Not inflation rates.
Does insurance premium mean monthly?
No. The premium is the price you pay for the coverage. Depending on your insurance company, the premium may be paid all at once or in payments.
What is a car insurance premium?
A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.
What is the definition of a single premium immediate annuity?
Single premium immediate annuity is when one gives an insurance company an upfront payment or deposit and they straight away begin to pay you a monthly income. One can get them from a number of financial service companies.
Where can one learn more about fdic insurance?
You can learn more about FDIC insurance at the website fdic.gov/deposit/. This website allows you to access information about the FDIC's risk-based premium system and the deposit insurance reform legislation.
What is loading in insurance?
Premium loading is an amount an insurance company adds to the basic premium to cover the expense of securing and maintaining the business.
