Basic Premium

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Basic Premium

The portion of a life insurance premium that a policyholder pays, usually monthly, that compensates the insurer for administrative expenses, commission for the agent who sells the policy, and the likelihood that that policyholder will die in the coming year.
References in periodicals archive ?
Table 4 displays the shortfall probabilities for basic premiums (Part (a)) as well as for fair premiums (Part (b)).
It is 30% of basic premiums paid, excluding the first- year premium.
Basic premiums are checked by the Federal Office of Public Health and approved or rejected, in which case they are corrected.
But now, because of exactly the same ruling banning gender based pricing, men and women will have to pay the same basic premiums.
Average basic premiums that seniors pay for Medicare Part D prescription drug plans should remain steady at around $30 in 2013, according to the Health and Human Services department.
Remember from 21 December, 2012, changes to the EU Gender Directive mean men and women must pay the same basic premiums.
In the past few years, basic premiums have come down substantially due to de-tariffing.
Not surprisingly, of all of the common coverages purchased by associations, event cancellation has been the most volatile, with basic premiums having increased since September 11, 2001, by 50-100 percent.
Basic premiums are collected by a central fund that gives the individual funds a yearly budget.
WASHINGTON -- Average basic premiums for Medicare prescription drug plans are projected to remain constant in 2013, Health and Human Services Secretary (HHS) Kathleen Sebelius announced today.
It is 30 per cent of the basic premiums paid, excluding the first-year premium.
It is also important to remember that from December 21 this year, changes to the EU Gender Directive mean that men and women must pay the same basic premiums.
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