Future Premium Law and Legal Definition
A future premium is a term that appears in a waiver of premiums clause in an accident insurance policy. It is a premium which the insurer would otherwise be entitled to demand after the commencement of the disability of the insured. It refers to the future cash inflows that are expected to be paid by policyholders. Payment of a future premium generally gives rise to rights for the policy holder.
Legal Definition list
Related Legal Terms
- Additional Premium
- Advanced Premium Deposit
- Affiliate of a Futures Commission Merchant, Commodity Trading Advisor, Commodity Pool Operator or Introducing Broker
- Amortizable Premium
- Auto Insurance Premium
- Automatic Premium Loan Option
- Bond Premium
- Call Premium
- Commodity Futures Contract
- Commodity Futures Trading Commission
