Retronote Plan

Definition of "Retro-note plan"

Means of financing by which some large organizations pay their property or liability insurance premiums to reflect losses actually paid during the first year of coverage, plus claims expenses, administrative and servicing expenses, and a loading for the company's profit. The insured signs a promissory note to the company for the difference in the normal or standard premium that should have been charged.

Search Real Estate Glossary

Related Real Estate Glossary terms

Over-the-counter Selling Of Insurance

Method of selling insurance in which the insured purchases the product directly from the insurance c ...

Medical Payments Insurance

Provision of liability policies and the liability sections of package insurance policies, such as th ...

Decreasing Term Life Insurance

Coverage in which the face amount of a life insurance policy declines by a stipulated amount over a ...

Policy Loan

Amount that the owner of a life insurance policy can borrow at interest from the insurer, up to the ...

Dividend Scale

Dividends paid historically, currently, and projected. ...

Casing

(1) The exposed trim and molding surrounding a door or window. (2) Woodwork which encases a pipe or ...

Related Real Estate FAQ

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

What Is A Subprime Mortgage?

A subprime mortgage is a mortgage granted to a borrower who is considered subprime-that is, a person ...

What Is A Mortgage Banker?

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

What Is A Lease Purchase Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property ...

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affi ...

What Is A Gated Community?

A gated community is a community of homes where you must pass through a security gate in order to en ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Should you Buy a Home with Cash? Mortgage Loan Types What is Hazard Insurance? Is it better to buy or sell a home first Build or Buy? That’s the Big Question

FAQ

What is a housing ratio? What is a quit claim deed? What is Long Term Care Insurance? What is an agent? What is an adjustable-rate mortgage (ARM)?