Insurance premium

Insurance Premium
Insurance premium is simply an amount of money paid for insurance coverage. An insurance premium is an intrinsic part of a contract between a policy holder and an insurance company.

Insurance Premium:
The amount paid to an insurance company for a specific amount and kind of protection.
Intangible Assets ...

Definition of
insurance premium
Insurance
regular payment to insurance firm a regular payment made by a person or a company to a company for a specific insurance policy ...

INSURANCE PREMIUM - The amount you must pay at specified intervals (e.g. monthly or semi-annually) to t...
INSURANCE PRINCIPLE - The law of averages. The average outcome for many independent trials of an experi...

Insurance premium tax
A tax levied on most non-life insurance policies.
Insured ...

Insurance premium: A periodic payment for protection against loss. The size of the payment is based on various risk factors. For example, your auto insurance premium depends partly on your age.

Insurance premium
Payments calculated by the insurance company based on risk factors that must be made by the insured to guarantee protection of property loss under an insurance policy.

insurance premium: An amount paid for insurance by a policyholder.
intangible asset: An asset that does not exist on a physical level but has some value assigned to it.

Insurance Premium Tax (IPT)
A tax on premiums received under taxable insurance contracts. All types of insurance risk located in the UK are taxable unless they are specifically exempted.
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Health insurance premiums
Though not included as a miscellaneous itemized deduction, both annual premiums and long-term care premiums may be deductible depending on your age and medical expenses.

insurance premium that is paid beyond the current period, so it is not yet earned by the insurer. If the policy is canceled, the insured should receive a refund of the unearned amount.
Related Terms:
Dictionary of Insurance Terms ...

Insurance premiums paid by a parent company to a subsidiary insurance company on behalf of the company's other subsidiaries were valid insurance expenses.

If insurance premiums are based on the needs of smokers, then the premiums will be high. Therefore, there is no incentive for healthy people to take out the insurance.
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An insurance premium that is collected, typically on Federal Housing Administration (FHA) loans, at the time the loan is initially made.

Life insurance premiums that remain the same year over year.
Life Annuity:
An annuity under which payments are guaranteed for the life of the annuitant.

Health insurance premiums for yourself and your dependents are deductible on the first page of your Form 1040 (Line 28), rather than on your business tax form (e.g., Schedule C for sole proprietors).

Global insurance premiums grew by 11% in 2007 (or 3.3% in real terms) to reach $4.1 trillion. The macro-economic environment was characterised by slower economic growth in 2007 and rising inflation.

High car insurance premiums have been much in the news...horror stories of upstanding citizens having to pay $4000 per vehicle just because of a few minor traffic tickets or even just because they moved to a different province...

Mortgage Insurance Premium (MI or PMI) - A monthly payment -usually part of the mortgage payment - paid by a borrower for mortgage insurance.

Mortgage insurance premium
The up-front and/or periodic charges that the borrower pays for mortgage insurance. There are different mortgage insurance plans with differing combinations of up-front, monthly and annual premiums.

Can health insurance premiums be deducted from your health savings account?
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Insurance policy A contract detailing an insurance policy and outlining what risks are insured, what insurance premiums are to be paid by the policyholder, what deductibles prevail, and all the details associated with a policy.

Waiver of premium A provision in an insurance policy that allows payment of insurance premiums to be permanently or temporarily stopped in the event the policyholder becomes incapacitated.

Actuary Actuaries assess financial risk, calculate insurance premiums and value pension funds.... Ad driven media The parts of the media that are dependent on advertising for their revenues, which therefore tend to be cyclical....

Insurance companies do not normally announce their health insurance premiums more than a year in advance. This means that, if you get sick, you may find your premiums raised a lot. This defeats the purpose of having insurance in the first place.

A recent study demonstrates the effects of rising insurance premiums on wages and other benefits in a large firm.

Insurance Premium
The amount payable by the insured in return for indemnification against specified risks, often paid in instalments....(Read more)
Insurance Premium Tax ...

Mortgage Insurance - some first-time homebuyer programs still require the first year mortgage insurance premium to be paid in advance, but this is becoming rare. Most mortgage insurance is simply paid monthly with your mortgage payment.

Ideally, insurance premiums should be set according to the risk of a randomly selected person in the insured slice of the population (55-year-old male smokers, say). In practice, this means the average risk of that group.

Seen in this light, the returns these hedge funds earn are not leveraged profits so much as leveraged insurance premiums.

Several definitions: 1) The part of an insurance premium, which is given back to, the policyowner who experiences better than predicted claim experience. May also be known as an experience rating refund and or retroactive rate reduction. See dividend.

Qualified Mortgage Insurance Premium - Premium paid by homeowners on mortgage insurance for FHA loans that can be deducted in the same manner as home mortgage interest.

For example, if a one-year insurance premium is paid three months before the end of the fiscal year, three months of the premium would be an expense in the year paid, nine months would be an expense of the following year.

In life insurance premium is a function of the assessment regarding the likelihood that the feared event will occur during the life of the contract ( "demographic assumptions") that constitutes the actuarial component of the premium.

Insurance premiums on new issues are paid at closing from bond proceeds (as a cost of issuance) and are usually calculated as a percentage of debt service on the insured bond or bonds.

Prepaid costs are expenses that recur periodically, including home insurance premiums and real estate taxes.

Just this morning I walked by Smilin' Ted's All-Comers Insurance Agency to drop off my annual shoe insurance premium (for protection against blowouts), ...

The company paying the premiums for the protection will have insurance expense and possibly an asset, Prepaid Insurance (if the premiums are paid in advance). The insurance company would have insurance premium revenues and possibly a liability, ...

For example, the deposit of funds by a borrower with the lender to pay taxes and insurance premiums when they become due.

Policy Dividend: A refund of part of a life insurance premium reflecting the difference between the premium charged and the insurer's actual cost of providing coverage, if lower than previously anticipated.
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Reissue Rate - A reduced rate of title insurance premium applicable in cases where the owner of the land has been previously insured in an owner's policy by the insurer within a certain time.

The money is held in a trust fund, provided by the lender for the buyer. Such funds should be adequate to cover yearly anticipated expenditures for mortgage insurance premiums, taxes, hazard insurance premiums, and special assessments.

taxable benefit for group life insurance premiums paid by your former employer
amounts received from an employee profit-sharing plan
Self-employment income is not included in employment income.

You did not need a pension or have to start one in order to take advantage of pension term assurance and the tax relief on the insurance premiums were the same as that for pension contributions, ...

For example, if insurance premiums for the next six months are paid today, the amount paid may be shown as a pre- paid asset.

Many companies today are faced with a harsh reality, the need to cut costs in order to stay in business. Health insurance premiums have gotten very expensive, for many they are just too expensive.

Annuity
A periodic payment from an invested lump sum of principal, retirement contributions or insurance premiums.
Ask price
The lowest price at which a seller is willing to sell a financial instrument listed on an exchange.

These include capital and insurance premium taxes; payroll levies (e.g., health taxes, Unemployment Insurance, Canada Pension Plan, Quebec Pension Plan, Workers' Compensation); property taxes; and indirect taxes, such as sales and excise taxes, ...

Grace Period: A period of time after the due date of an insurance premium or loan payment during which the overdue payment may be made without penalty, and the policy or loan remains in effect.

Such electronic transactions can be substituted for paper checks used to make recurring payments such as payroll or preauthorized insurance premiums. The U.S. Treasury uses the ACH extensively to pay certain obligations of the government.

However, pension max, as this approach is sometimes called, has some potentially serious drawbacks. These include the cost of the insurance premiums, including sales charges, ...

The difference between insurance premiums earned and claims and expenses paid over a given period.
Unearned premiums ...

Amounts you prepay to cover property taxes and insurance premiums as part of your regular mortgage payment are also held in escrow until those bills come due and are paid. In that case, you may earn interest on the amount in the escrow account.

Prepaid Expenses: Amounts paid in advance to a creditor or vendor for goods or services. Insurance premiums are a good example. Prepaid Expenses are a current asset because you paid for goods or services you have not yet received.
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An investment that combines a life insurance policy with a mutual fund. The fund shares are used as collateral for a loan to pay the insurance premiums.

For example, the deposit by a borrower with the lender of funds to pay taxes and insurance premiums when they become due, or the deposit of funds or documents with an attorney or escrow agent to be disbursed upon the closing of a sale of real estate.

Grace period
A time during which a borrower can pay the full balance of credit due and not incur finance charges or pay an insurance premium without penalty.
Gross pay
Wages or salary before deductions for taxes and other purposes.

Withholding is the amount that employers subtract from their employees' gross pay for a variety of taxes and benefits, including Social Security and Medicare taxes, federal and state income taxes, health insurance premiums, retirement savings, ...

Retired Benefits Bankruptcy Protection Act - passed June 16, 1988. This allows the debtor to continue to pay insurance premiums for employees during the course of a bankruptcy.

An employee’s gross pay is the amount an employee earns before any deductions for taxes or other items such as union dues or insurance premiums.
Employee's individual earnings record ...

See also: Expense, Saving, Job, Mergers, Business plan