Estimated Premium

Estimated Premium,

What is The Definition of Estimated Premium?

  • An initial price that can be adjusted to reflect the scope of a specific agreement.

  • Definition of Estimated Premium: A premium estimate of the cost of the premium provided by the insurance companies to the potential policyholder to estimate the cost of the policy premium. However, the insurance company is not legally obliged to keep a fixed amount of premium until both parties have signed a binding insurance agreement.

  • Estimated Premium definition is: Adjustable starting premium for exposure differences.

Literal Meanings of Estimated Premium

Estimated:

Meanings of Estimated:
  1. (A value or number) was calculated approximately

Sentences of Estimated
  1. Estimated cost 1 billion

Premium:

Meanings of Premium:
  1. Price added to price or general cost.

  2. Something is given as a gift, reward or incentive.

Sentences of Premium
  1. Accurately, the earnings of a pensionable worker are made up of the premium paid in addition to his salary for the equivalent claim.

  2. Avoid paying too much for organic fruits

  3. The Society des Arts gave him a bonus

Synonyms of Premium

perk, extra amount, prize, bonus, surcharge, reward, remuneration, insurance charge, recompense, instalment, additional payment, extra, additional fee, percentage, regular payment, insurance payment, extra charge