Premiums - Insurance Software development

What Are Insurance Premiums, Deductibles, And Limits?

Author - Webner
4:36 am
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An insurance premium is the sum of money an individual or a business unit pays to the insurance company for an insurance policy. These policies cover home, automobile, health, or life insurance. The premiums are paid to get coverage against the loss arising from death, accidents, health issues, natural calamity, etc. The insurance premium must be paid regularly as per the conditions mentioned in the insurance contract i.e, it can be paid monthly, quarterly, half-yearly, or annually. In case of failure of payment of insurance premium, the insurance policy may be canceled by the […]

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