What does Deferred Premium mean? Read on to discover the definition & meaning of the term Deferred Premium - to help you better understand the language used in insurance policies.
A deferred premium is a payment for a policy that is not yet due. This will be paid on either a monthly, quarterly, or semi-annual basis. A deferred premium serves as a payment scheme for policyholders who cannot afford to pay their premium on an annual basis.
We hope the you have a better understanding of the meaning of Deferred Premium.