What does Administrative Charge mean? Read on to discover the definition & meaning of the term Administrative Charge - to help you better understand the language used in insurance policies.
An administrative charge is a charge that an insurer requires its clients to pay to cover the costs of various administrative activities related to the maintaining of the insurance account for certain types of policies. These administrative activities can include such activities as record keeping, data filing, and so on.
We hope the you have a better understanding of the meaning of Administrative Charge.