- renewal premium renewal premium ➔ premium1
* * *renewal premium UK US noun [C]► INSURANCE money that you pay to make an insurance agreement continue for an extra period of time: »
It may be possible to save as much as 30% on a renewal premium by shopping around.
Financial and business terms. 2012.
Look at other dictionaries:
renewal premium — /rɪ nju:əl ˌpri:miəm/ noun a premium to be paid to renew an insurance … Dictionary of banking and finance
renewal notice — An invitation from an insurer to continue an insurance policy that is about to expire by paying the renewal premium. The renewal premium is shown on the notice; it may differ from the previous premium, either because insurance rates have changed… … Accounting dictionary
renewal notice — An invitation from an insurer to continue an insurance policy that is about to expire by paying the renewal premium. The renewal premium is shown on the notice; it may differ from the previous premium, either because insurance rates have changed… … Big dictionary of business and management
premium — consideration paid for an insurance policy. Glossary of Business Terms (1) The additional payment allowed by exchange regulation for delivery of higher than required standards or grades of a commodity against a futures contract. (2) In speaking… … Financial and business terms
Premium — (1) Amount paid for a bond above the par value. (2) The price of an option contract; also, in futures trading, the amount the futures price exceeds the price of the spot commodity. Related: inverted market premium payback period. Also called… … Financial and business terms
renewal commission — A commission, calculated on a renewal premium, to which an insurance agent is entitled by virtue of having obtained the application for the policy by solicitation of the insured … Ballentine's law dictionary
renewal notice — ➔ notice * * * renewal notice UK US noun [C] ► an official document that tells you that an agreement will soon end, and an arrangement needs to be made if you want to continue it for an extra period of time: »Your new insurance premium is shown… … Financial and business terms
renewal of policy — The continuance of insurance in force by the payment of a new premium, sometimes under a provision for renewal contained in the contract of insurance. A renewal of insurance by the payment of a new premium and the issuance of a receipt therefor,… … Ballentine's law dictionary
renewal — [[t]rɪnju͟ːəl, nu͟ː [/t]] renewals 1) N SING: usu N of n If there is a renewal of an activity or a situation, it starts again. They will discuss the possible renewal of diplomatic relations... Is he really considering a renewal of hostilities at… … English dictionary
natural premium plan — A form of insurance, also called the assessment plan wherein the insurance company limited its assessments or premiums to such a sum as was necessary to cover the actual cost of insurance from one renewal period to another. Westerman v Supreme… … Ballentine's law dictionary