Question
An amount of premium for which payment has been made by
the policyholder but coverage has not yet been provided is known as?Solution
Unearned premium is the premium corresponding to the time period remaining on an insurance policy. These are proportionate to the unexpired portion of the insurance and appear as a liability on the insurer's balance sheet, since they would be paid back upon cancellation of the policy.
A term policy that can be converted to permanent coverage rather than expiring on a specific date is called?
What is the purpose of a "loss adjuster"?
What does the preamble of an insurance policy NOT typically include?
Which of the following is NOT a type of motor insurance policy?
A policy that covers loss or damage to a householder's property is:
The period during which the owner of a deferred annuity makes payments to build up assets is called?
Identify the correct full form of GAAT?
What does the term "insured" refer to in insurance?
Which type of insurance usually requires higher premium ?
Which of the following bank is not involved in housing finance to general public?
