Deposit premium

From Wiki.Agency
Revision as of 07:00, 29 March 2018 by Cydebot (talk) (Robot - Moving category Insurance terms to Category:Insurance per CFD at Wikipedia:Categories_for_discussion/Log/2018_February_11.)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

A deposit premium is a type of insurance premium where the insured deposits money with the insurer to obtain perpetual insurance against the risk of a loss. Deposit premiums are unique from regular insurance premiums, as they are refundable should if either the insured or the insurer chooses to terminate the perpetual insurance.