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The premium period refers to the duration during which policyholders must pay premiums for an insurance policy to maintain coverage. It can vary depending on the type of insurance and the terms of the policy. During this time, the insurer provides protection against specified risks, and failure to pay premiums within this period may result in a lapse of coverage. In some cases, policies may have a grace period allowing late payments without losing coverage.
What else can I help you with?
What is another term for accumulation period of an annuity?
Premium period
What is the difference between a COBRA prorated premium and a monthly premium?
A COBRA prorated premium is a partial payment for health insurance coverage for a specific period, while a monthly premium is the full payment for coverage for a whole month.
When is the Automatic Premium Loan Provision activated?
At the end of the grace period.
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.
Can you put regular gasoline in your Volvo s40 instead of premium gasoline?
Yes, you can. Premium is recommended, but not required. If you intend to keep the car for a long period of time, the engine will operate better with premium.
How can you lower the cost of disability insurance?
The primary factors impacting your premium are: the elimination period, benefit period, and benefit amount. You can lower your premium cost by choosing a less costly configuration on one, two, or all three of these features.
How long to pay insurance premium to Insurance Company after accident?
In general, insurance policies will have a grace period within which premiums can be paid after the regular due date. If the premium is paid within the grace period, coverage continues as normal. If not paid by the end of the grace period, the policy lapses. If a claim occurs after the policy has lapsed, there will be no coverage. The policy may contain language limiting your ability to make a claim if the premium has not been made on time, although the grace period has not yet expired. Therefore, the precise answer to your question will be dictated by tje language of the policy. In all events, you should certainly make the premium payment before the grace period expires and the coverage lapses for non-payment of premium.
Which of these is the best description of term insurance. purchased for a set premium cost with the option of paying in more?
purchased for a certain time period with a specific premium cost
What is the time after the premium due date before the policy lapses is called?
grace period
Are you covered during the grace period of health insurance?
Yes but only if you pay the premium due. If you never pay the premium then the coverage will be afforded. So be careful and if you have any claims during the grace period make sure you pay the premiums.
Can health insurance force you to pay for the grace period?
All insurance policies have a due date on which the periodic policy premium is payable. However, most also have a grace period, which is a stated number of days (often, 10) beyond the due date, during which the premium may be paid and will be accepted by the insurer without penalty. If the premium is not paid by the time that the grace period expires, the policy will in most cases expire or be cancelled for nonpayment of premium. An exception to this result may be when, in the case of whole life insurance, there is an accumulation of cash value. In that case, the unpaid premium may be paid from the accumulated cash value so as to keep the policy in force for a further period of time.
What is the current market risk premium of Australia?
The current estimated market risk premium of Australia is 8 percent. This is within the regulatory period January 2010 to June 2014.
