Renewal Premium


Definition of "Renewal premium"

Rick Hamilton real estate agent
Rick Hamilton RE/MAX METRO ATLANTA

Payment due on the renewal of an insurance policy. The premium may be adjusted up or down to reflect the loss experience of the underwriting classification to which the insured belongs.

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Commercial Policy

Same as term Commercial Health Insurance: coverage that provides two types of benefits, disability income (DI) and medical expenses. Sold by insurance ...

Lapse

in property and casualty insurance, termination of a policy because of failure to pay a renewal premium. in life insurance, termination of a policy b ...

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Costs associated with renewal commissions as a percentage of the renewal premiums, and the servicing charges for previously issued insurance policies. ...

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