Experience Refund

Experience Refund,

Experience Refund Definition:

  • In the case of insurance contracts, a portion of the profits is returned to the sedentary after the provision has been made for the provision of reimbursement for risks, accumulated losses and losses.

  • Experience Refund definition is: Providing premium payments to policyholders for less than expected losses in most group policies.

  • The amount paid by the insurance company to the group's policyholders if the financial experience of a particular group (or the type of group it belongs to) is more favorable than expected.

Literal Meanings of Experience Refund

Experience:

Meanings of Experience:
  1. Learn or distress (an event or events)

Synonyms of Experience

come across, participation in, confront, come into contact with, come up against, meet, encounter, be faced with, run into, have experience of, be forced to contend with, face, undergo, involvement in

Refund:

Meanings of Refund:
  1. Compensation (cash), usually for customers who are not satisfied with the goods or services purchased.

  2. Usually return a certain amount to the unhappy customer.

Sentences of Refund
  1. If you are not satisfied with your purchase, we guarantee a full refund.

  2. You have the right to refuse and demand a refund.

Synonyms of Refund

give back, pay back, return, restore, reimbursement, reparation, repayment, restitution, repay