Excess Loss Premium (ELP) Factor,
What Does Excess Loss Premium (ELP) Factor Mean?
Meaning of Excess Loss Premium (ELP) Factor: An element used to calculate insurance costs based on a fixed price plan to limit an individual's loss to a certain level. That is, with PEL, the insured chooses to limit the effect of a single loss through an additional premium.
Literal Meanings of Excess Loss Premium (ELP) Factor
Meanings of Excess:
Almost everything is more than necessary, permitted or required.
Lack of moderation in any activity, especially when eating and drinking.
Exceeding the specified or required amount.
Sentences of Excess
Are you stressed out in your life?
Excessive alcohol consumption
Remove excess fat from meat
Synonyms of Excess
glut, superfluous, unwanted, unneeded, prodigality, intemperateness, lavishness, redundant, spare, superfluity, overindulgence, self-gratification, immoderation, profligacy, superabundance, dissolution, profusion, decadence, intemperance, surfeit, lack of restraint, self-indulgence, surplus, oversufficiency, overconsumption, dissoluteness
Meanings of Loss:
The fact or action of losing someone else.
Sentences of Loss
Avoid wasting time
Synonyms of Loss
mislaying, misplacement, overlooking, dropping, forgetting
Meanings of Premium:
Something that is given as a gift, gift or incentive.
Sentences of Premium
If calculated correctly, the income of a pensionable worker consists of a premium in addition to his salary, which he will have to pay for the equivalent claim.
Those who are reluctant to pay more for organic fruits are reluctant
Synonyms of Premium
instalment, recompense, insurance charge, remuneration, extra amount, prize, perk, bonus, percentage, additional fee, insurance payment, additional payment, extra charge, regular payment, surcharge, extra, reward