Posts
LeoGlossary: Short-Period Cancellation
25
@leoglossary
··
0 views
1 min read
When an insurance contract is terminated prior to its expiry date by the insured any return premium that is payable will usually be calculated on a time on risk basis. The result is that the insured will receive less return premium than would be the case if the return premium was calculated on a pro-rata basis.
General:
Posted Using LeoFinance Beta
