What is the Definition of Frequency in Insurance Terms?
Number of times a loss occurs. One of the criteria used in calculating premium rates.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Frequency in Insurance Terms?
You can find random definition and meaning of insurance terms below:
Meaning of Paid-Up Policy in Insurance Terms
An insurance policy that requires no further premium payments but continues to provide coverage.
Meaning of Participating Policy in Insurance Terms
A type of insurance policy that allows policy owners to receive policy dividends. Also known as par policy. (See Dividend)
Meaning of Paid-Up Additional Insurance Option in Insurance Terms
An option, available to the owners of participating life insurance policies, that allows the policy owner to use policy dividends to purchase additional insurance on the insured’s life; the paid-up additional insurance is issued on the same plan as the basic policy and in whatever face amount the dividend can provide at the insured’s attained age. (See Dividend; Participating policy; Policy dividend options)
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