What is the return of premium in an insurance policy?

Answer Return-of-premium was conceived by insurance companies as a way to sell more policies. The idea was that people resent paying for something that they may never use. So if the insurance companies of... Read More »

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If the insured cancels their own auto insurance policy how is the return premium calculated and is there a penalty?

Answer If you cancel your policy is will probably be short-rated which means you will be penalized for canceling. There are published factors but I can't give you the short rate factor without know... Read More »

Can you claim your hospitalization insurance premium on your tax return?

The Internal Revenue Service (IRS) recognizes hospitalization insurance premiums as a tax-deductible medical cost that you can claim on your tax return. However, since it is an itemized deduction, ... Read More »

What is the premium of an insurance policy?

When you have insurance, premiums must be paid for the coverage you receive. Insurance premiums can be paid for homeowner's, auto, life and health insurance. Insurance premiums allow you to transf... Read More »

An insurance policy with a higher premium most likely has?