Additional Premium

(redirected from Additional Premiums)

Additional Premium

A premium on an insurance policy over and above the initial premium imposed at the beginning of the policy. An additional premium may be assessed if the insured's risk is found to have increased significantly.
Mentioned in ?
References in periodicals archive ?
He says that the increase will bring in about $55 million in additional premiums next year, and will be combined with a cost-reduced claims process that will save the WC system $35 million to $70 million by June 2014.
Variable life has some significant disadvantages, including the potential of forced payment of additional premiums to keep the contract in force, inflexibility of the underlying investment vehicle(s), and insurance rates that may not be competitive.
Additional Premiums for Companies with Under-Funded Plans
When additional premiums on the policy are paid, the reported asset amount increases only as the cash surrender value increases; any remaining amount is charged to expense.
The additional premiums for the stop loss typically range from 40% to 60% for each dollar of coverage purchased.
Paying initial claims while collecting additional premiums before ceasing claims payments.
Since the lack of additional premiums payments would cause the policy to lapse, the beneficiaries were more than happy to cooperate.
The Civil Aviation Administration of China (CAAC) announced on 24 September 2001 that Beijing would cover airlines' insurance claims beyond USD50m for one month, after insurance firms charged airlines additional premiums and reduced payouts to USD50m for war-related aircraft incidents following the 11 September terrorist attacks.
Official statistics suggest one in 20 motorists is driving without insurance, costing millions of pounds each year in additional premiums for honest drivers and wasted police time.
Damages would exceed pounds 1,000 and your husband would have lost his no-claims bonus for the damage to the car in any event, so there will be no additional premiums to pay.
Over time, the insurance companies can be expected to re-write these exclusions to cover lead paint lawsuits - and charge additional premiums for specific endorsements that would nullify the exclusion.
4 billion per year in additional premiums paid for SAIF deposits.

Full browser ?