What Is the Definition of Annual Premium?

Answer

An annual premium is the amount that must be paid every year as of the anniversary of the date of a policy. This is to meet the contractual requirements of the policy and keep it in full force. It is mostly used when the sales contain both single premium and regular business.
Q&A Related to "What Is the Definition of Annual Premium"
An FHA loan is a mortgage loan insured by the U.S. Department of Housing and Urban Development (HUD) To qualify for an FHA loan you must have a credit score of at least 650 and you
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Annual Premium= Annual Base Premium * Driver-Rating Factor. To get annual base premium the formula is. Annual base Premium= Liability Premium + Collision Premium + Comprehensive Premium
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Series of premium payments made to purchase an annuity . This is the same method of purchase used for level premium insurance .
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Average annual premium: $786. To get these benefits, you must meet strict rules.
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