Examples of Policy Premium in a sentence
If the amount received towards Policy Premium is more than the installment due, the excess amount will be refunded to the Policyholder.
In such cases the Policy Premium due and payable on the due date will be treated as unpaid.If the amount received towards Policy Premium is more than the installment due, the excess amount will be refunded to the Policyholder.
Premium Payment Term means the period during which the Policy Premium is payable and is mentioned in the Policy Schedule.
In case of cancellation by the First Named Insured, or by the insured’s premium finance company, we will refund unearned premium on the usual short rate basis, subject to retention by us of the Minimum Policy Premium specified in the Declarations and less any sums due us under this policy.
In case of cancellation by us, we will refund any unearned premium on a pro rata basis, subject to retention by us of the Minimum Policy Premium specified in the Declarations and less any sums due us under this policy.