[Answer] When an insured requests cancellation of a policy the unearned premium is refunded to the insured on a _____ _____.

Answer: Short Rate
When an insured requests cancellation of a policy the unearned premium is refunded to the insured on a _____ _____.
Unearned premium is the portion for an insurance written premium which is considered “unearned” by the insurer. It is the written premium less the earned premium. The unearned premium would be returned to the insured if the policy is canceled using pro rata cancellation method when the policy is cancelled with no penalty.
Return of premium (ROP) is a type of life insurance policy that returns the premiums paid for coverage if the insured party survives the policy s term or includes a portion of the premiums paid to the beneficiary upon the death of the insured . For example a $1 000 000 policy bought for $10 000 a year over a 30-year period would result in $300 000 being refunded to the surviving policyholder …
Return of premium life insurance – Wikipedia
Return of premium life insurance – Wikipedia
Life insurance – Wikipedia
Return of premium life insurance – Wikipedia
Fri Jan 27 2006 13:30:00 GMT-0500 (Eastern Standard Time) · Insurance cancellation method. Calculation of return premium of a cancelled insurance policy is often done using a cancellation method called pro rata. First a return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy .
Wed May 14 2008 14:30:00 GMT-0400 (Eastern Daylight Time) · Collateral Protection Insurance or CPI insures property held as collateral for loans made by lending institutions. CPI also known as force-placed insurance and lender placed insurance may be classified as single-interest insurance if it protects the interest of the lender a single party or as dual-interest insurance coverage if it protects the interest of both the lender and the borrower.
Life insurance (or life assurance especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer where the insurer promises…

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