The phrase
"additional premium" refers to the extra amount of money that needs to be paid on top of the regular cost or fee for a particular service or product. It is an additional charge for something beyond the usual price.
Full definition
There are some riders that come as a part of your insurance plan, while some other riders has to be purchased along with your insurance policy, by paying
additional premium amount.
In fact, conversion will cost you and replacing a policy has the drawbacks of
additional premiums costs as well as the inconvenience of having to undergo a medical exam for qualification purposes.
Policy loans or withdrawals will reduce the policy's cash value and death benefit, and may
require additional premium payments to keep the policy in force.
By paying
additional premium on car insurance policy, you can also enhance this coverage to paid driver and other passengers of insured vehicles.
Also, be aware that market volatility can lead to the possible need for
additional premium in your policy.
This means that from the insured party's viewpoint they are effectively paying a
small additional premium for guaranteed insurance payments even if you can no longer make the payments.
If done correctly enough cash value will be left in the policy from the gain to continue to keep the policy in force
without additional premium payments.
This means a no medical exam policy may cost you thousands of dollars in
additional premiums over the term of the policy, while saving you less than an hour.
Select skills will feature free content, and offer in - skill purchases for
additional premium content... The developer tools to enable in - skill purchases will be available early next year.
Some companies will
offer additional premiums to drivers who take particular defensive driving or driver's education courses.
What some people may not realize is that even if the owner wants to pay
additional premium into the policy, they are not allowed once the policy is open.
These extra features may or may not be worth the added expense so thoroughly read all documentation to see if what you're paying for is
worth additional premium payments.
This handy traffic violation calculator will help you get an idea of how
much additional premium you may be looking at based on national averages.
Provides assured returns on the total amount of premiums paid, which
excludes additional premium (s) for enhances coverage with rider, (if any).
The policy holder can
contribute additional premiums to the policy to help grow the cash value account or pay off the policy in a shorter period of time.
However, if the assumed return is not achieved, or the insurer increases fees in the policy
then additional premium payments may be required, or the policy will lapse.
There are also single premium options where just one single premium is required, and then no
more additional premium is needed.
In certain jurisdictions, this product was sold as a modified single premium variable annuity,
whereby additional premium payments were not permitted after the first policy year.
These are strictly optional insurance elements for Aurora drivers, but they are commonly included in car coverage because of the extra protection they provide for relatively
little additional premium cost.
At the end of the no - lapse guarantee period provided by either the policy or the rider, you may need to make
significant additional premium payments.
Phrases with «additional premium»