What does Experience Dividend mean? Read on to discover the definition & meaning of the term Experience Dividend - to help you better understand the language used in insurance policies.
Refund of a portion of group insurance premium to a group policy holder whose claim experience turns out to be better than what was anticipated at the time premium was computed. Also called experience rating refund, experience refund, or retroactive rate reduction.
We hope the you have a better understanding of the meaning of Experience Dividend.