What is the Definition of Flexible Premium?

What is the Definition of Flexible Premium?

A premium payment method sometimes offered in  connection with annuities and with some types of life insurance that allows the contract owner or policy owner to alter the amount and the frequency of payments, within specified boundaries defined by the insurer and the law.

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 Flexible Premium?

What is the Definition of Flexible Premium?

You can find random definition and meaning of insurance terms below:


Meaning of Premises in Insurance Terms

The particular location of the property or a portion of it as designated in an insurance policy.


Meaning of Premium in Insurance Terms

The price of an insurance policy, typically charged annually or semiannually. (See Direct premiums; Earned premium; Unearned premium)


Meaning of Premium Tax in Insurance Terms

A state tax on premiums paid by its residents and businesses and collected by insurers.


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