What Does Short Rate Premium Mean?

Free Business Insurance Quote Click Here
What does Short Rate Premium mean? Read on to discover the definition & meaning of the term Short Rate Premium - to help you better understand the language used in insurance policies.

Short Rate Premium

Short Rate Premium

Short rate premium is the money refunded to the policyholder when they cancel a policy prior to its expiration date. The amount is usually calculated based on a short rate table that combines the inception date, the date of cancellation, and the premium paid.

We hope the you have a better understanding of the meaning of Short Rate Premium.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z