Premium discount

Premium discount,

Definition of Premium discount:

  1. A discount given to policyholders that pay premiums for one year in advance. This term can also refer to a discount given in some states to holders of workers compensation or general liability policies. This discount is given because of the reduced expense incurred by the insurer on smaller policies.

Meaning of Premium discount & Premium discount Definition

Premium Discount,

Premium Discount Definition:

  • Premium Discount means, The volume discount applies to premiums that take into account the administrative cost savings associated with higher premiums. It is primarily used in workers' compensation insurance and is available in states where rates are approved and issued (the state claims that insurance is now free to renew its premium cost factor). After pricing based on experience, a reward discount is applied to rewards of more than 5,000 at a growth rate that increases with the reward. There is no discount in the award when implementing the previous plan.

Literal Meanings of Premium Discount

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. Consumers are reluctant to pay more for organic fruits

  3. The Society des Arts gave him a bonus

Synonyms of Premium

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

Discount:

Meanings of Discount:
  1. Decrease the (normal value of an item)

  2. Due to lack of credibility (possibly reality or person) it is not possible to see.

  3. A deduction from the nominal cost of an item that will usually be paid on time or in advance, or to a specific category of buyers.

  4. (From a store or company) who have a product to sell at a lower price.

Sentences of Discount
  1. Existing users are eligible for discounts.

  2. I heard the rumors but put them aside

  3. Many stores offer discounts on wholesale purchases

  4. Discount Pharmacy China

Synonyms of Discount

dismiss, cut, brush off, take no notice of, concessionary price, deduct, take no account of, gloss over, deduction, take off, concession, reduction, rebate, pass over, markdown, overlook, ignore, cut price, lower price, price cut

Premium Discount,

Premium Discount Definition:

  • You can define Premium Discount as, The volume discount applies to premiums that take into account the administrative cost savings associated with higher premiums. It is primarily used in workers' compensation insurance and is available in states where rates are approved and issued (insurers are already free to renew their premium cost factor in claim costs). )۔ After pricing based on experience, the prize discount is applied to prizes over $ 5,000 at a growth rate that increases with the prize. Premium discount is not available when requesting a review.

Literal Meanings of Premium Discount

Premium:

Meanings of Premium:
  1. Amount payable under the insurance contract.

  2. Price or value added to the general price.

Synonyms of Premium

inducement, incentive, extra amount/charge, perquisite, bounty

Discount:

Meanings of Discount:
  1. A reduction in the general price of something.

  2. Decrease the amount from (normal price of something).

  3. As far as (possibility or reality) it is not worth considering because it lacks credibility.

Sentences of Discount
  1. Passengers benefit from lower subscriptions.

  2. There may be a price for a product that cannot be easily reduced.

  3. He heard the rumors but ignored them.

Synonyms of Discount

take with a pinch of salt, disregard, reject, pooh-pooh, pay no attention to, disbelieve, slash, knock off, give no credence to