What Does Pro-Rata Mean?

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What does Pro-Rata mean? Read on to discover the definition & meaning of the term Pro-Rata - to help you better understand the language used in insurance policies.

Pro-Rata

Pro-Rata

Termination of an insurance contract or bond by the insurance company, with the premium charge then adjusted in proportion to the exact time the protection has been in force.

We hope the you have a better understanding of the meaning of Pro-Rata.

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