Outstanding Premiums
Definition of "Outstanding premiums"
Payments due to an insurance company but not yet paid.
Popular Insurance Terms
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Common element in property insurance that excludes electrical damage or destruction of an appliance unless the damage is caused by a resultant fire. ...
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worth of each accumulation unit at the end of each valuation period for a variable annuity. This value is similar to that of the net asset value for a mutual fund. ...
First historical mortality table used for the calculation of premium rates for group annuities. This table was subsequently replaced by the group annuity table, 1971. ...
Comments for Outstanding Premiums
1) What is Outstanding Premium and how can it be cleared? 2) Can a monthly premium be paid quarterly some of the time?
May 05, 2021 22:03:45Hi Emmanuel! Outstanding premiums are essentially unpaid insurance bills; the only way to clear them is by paying them. As for your second question, that's something you'll have to discuss with your insurance provider. Hope we were of some help!
May 06, 2021 20:02:02Have a question or comment?
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