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Fixed Premium

   Also found in: Medical 0.01 sec.
Fixed premium
Payments of a fixed or equal amount paid to an insurance company for insurance or an annuity.

Fixed Premium
A payment for an insurance policy or annuity that does not change over the life of the policy or annuity. Fixed premiums have fewer risks for the policyholder or annuitant, and are very common. See also: Variable premium.


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Therefore, for those being on annuity plans and receiving money, the payments could be received in fixed premium shares or flexible premium shares.
By sticking to a fixed premium contribution, we saved money on the richer plan designs, which we could apply to those who chose a deductible plan.
Drivers pay a fixed premium based on traditional factors such as residence and marital status.
 
 
 
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