Advanced Premium Deposit Law and Legal Definition
Advanced premium deposit is a feature of a life insurance in which annual premiums are paid in advance at a discount. The interest earned on such advance premium deposit can be used to reduce the cost of the premium and life insurance premium will be automatically paid from that account. In short, it is the premium paid before the due date. For instance, in case of a premium that is due on March 1, 2007, if the insured pay the premium amount on January 1, 2007, such payment is called the advance premium amount. /p>
Legal Definition list
- Advanced Placement Program
- Advanced Placement or International Baccalaureate Course [Education]
- Advanced Placement (AP)
- Advanced Nuclear Facility [Energy]
- Advanced Notice of Arrival
- Advanced Premium Deposit
- Advanced Shipbuilding Technology
- Advanced Technology User Facility
- Advanced Technology Vehicle
- Advanced Truck Stop Electrification System
- Advanced Workplace Practices
