Premium payment plan
Term · Insurance and risk management · MLC-T-INS-002645
A structured arrangement that allows policyholders to pay their insurance premiums in installments rather than as a single lump sum. Common plans include monthly, quarterly, or semi-annual payments. While offering flexibility, some plans may include a small service charge or interest for the installment option.
| Identifier | MLC-T-INS-002645 |
|---|---|
| Field | Insurance and risk management |
Record as JSON
{
"id": "MLC-T-INS-002645",
"term": "Premium payment plan",
"field": "Insurance and risk management",
"definition": "A structured arrangement that allows policyholders to pay their insurance premiums in installments rather than as a single lump sum. Common plans include monthly, quarterly, or semi-annual payments. While offering flexibility, some plans may include a small service charge or interest for the installment option.",
"url": "https://mlchart.com/terminology/insurance/premium-payment-plan/"
}
Record 2,640 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.