Definition of "Outstanding premiums"

Tracy  Epting real estate agent

Written by

Tracy Eptingelite badge icon

Texas Realty Cafe

Payments due to an insurance company but not yet paid.

Comments for Outstanding Premiums

Owoyemi Emmanuel Owoyemi Emmanuel said:

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  22:03:45

 
Real Estate Agent

Hi 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  20:02:02
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Maximum amount of a specified type of insurance coverage, according to underwriting guidelines, that an insurance company feels it can safely underwrite on a particular exposure without ...

Coverage for automobile or aircraft operators if they are sued for negligently killing or injuring a passenger. The PERSONAL AUTOMOBILE POLICY (PAP) provides MEDICAL PAYMENTS INSURANCE for ...

Limit allowed by law on employee salary reduction plans. Many pension plans, as well as the popular 401 (k) plan, allow employees to set aside pre-tax dollars in a company-sponsored ...

Smallest face amount of life insurance that an insurance company will write on any one person. ...

Rules used by state regulators to value securities on the books of insurance companies. Bonds with acceptable credit quality are carried at amortized value, which is the face value plus or ...

In an insurance policy, sentences and paragraphs describing various coverages, exclusions, duties of the insured, locations covered, and conditions that suspend or terminate coverage. ...

Annuity that can be paid either with a single premium or a series of installments. For example, an annuitant pays a single premium of $100,000 on June 1 of the current year and is scheduled ...

Demographic designation used in life insurance to calculate premium rates for life and health insurance and annuity contracts. Since females have a longer life expectancy than males of the ...

Bureau insurer that files its statistical and underwriting experience with a rating bureau. ...

Popular Insurance Questions