Deposit premium

Term · Insurance and risk management · MLC-T-INS-001132

An initial premium payment required at the beginning of an insurance policy period, especially for policies where the final premium cannot be accurately determined upfront. This premium is an estimate, and the actual premium is calculated later based on actual exposures, such as sales, payroll, or mileage. An audit is typically performed at the end of the policy term to adjust the final premium.

Table 1. Record
Identifier	MLC-T-INS-001132
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001132",
  "term": "Deposit premium",
  "field": "Insurance and risk management",
  "definition": "An initial premium payment required at the beginning of an insurance policy period, especially for policies where the final premium cannot be accurately determined upfront. This premium is an estimate, and the actual premium is calculated later based on actual exposures, such as sales, payroll, or mileage. An audit is typically performed at the end of the policy term to adjust the final premium.",
  "url": "https://mlchart.com/terminology/insurance/deposit-premium/"
}

Record 946 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.