What Does Renewal Premium Mean?
When the policy is extended, there is a premium on the renewal premium policy. When the insured pays the insurer with the intention of retaining the benefits of the insurance contract after the termination of the coverage or change of the terms of the insurance contract, such as: renewal time.
Literal Meanings of Renewal Premium
Meanings of Renewal:
Instruction to resume activity or condition after intervention.
Sentences of Renewal
Resumption of hostilities
Synonyms of Renewal
Meanings of Premium:
Amount paid for the insurance policy.
Sentences of Premium
Consumers are reluctant to pay more for organic fruits
Synonyms of Premium
extra, extra charge, remuneration, insurance charge, additional fee, insurance payment, bonus, recompense, surcharge, regular payment, perk, instalment, percentage, reward, prize, additional payment, extra amount