return of premium

Definition

A clause stating that a benefit equaling the amount paid in all premiums will be paid, minus any amounts paid out in claims, if the claims made in a particular time frame do not exceed a certain percentage of the premiums paid.

Related Videos




http://www.businessdictionary.com/definition/return-of-premium.html

Today's Top Bulls

73% Bullish
(37 Votes)
70% Bullish
(104 Votes)
68% Bullish
(76 Votes)
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z