"Pro Rata Premium" Definition
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 Glossary   >   P   >   "Pro Rata Premium" Definition   

        Pro Rata Premium

A rate charged for a period of insurance cover shorter than the normal period. For example, if an insured had cover for one quarter of a year, the Pro Rata premium might be only one quarter of the annual premium.

Pro Rata Premium


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Pro Rata Premium - A rate charged for a period of insurance cover shorter than the normal period. For example, if an insured had cover for one quarter of a year, the Pro Rata premium might be only one quarter of the annual premium.


Pro Rata Premium : a rate charged for a period of insurance cover shorter than the normal period. for example, if an insured had cover for one quarter of a year, the pro rata premium might be only one quarter of the annual premium.