Fixed Premium

Definition

  • When the insurance premiums for an insurance policy or annuity stay the same for a set period of time. The guarantee of fixed premiums can be part of the base policy, or may be added with a rider. Also known as "level premiums."

Synonyms
level premium, guaranteed fixed premium, guaranteed level premium, constant premium, static premium

Related Terms and Acronyms

  • Casualty Insurance Definition,
    • Insurance that covers losses and liability from injuries to others and/or damage to the property of others.
  • Decreasing Term Life Insurance Definition,
    • A Term life insurance policy with benefits that decrease each year as the policyholder ages.
  • Fixed Annuity Definition,
    • An annuity that makes fixed payments to the annuitant with guarantees for earnings and principal.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • Level Payment Definition,
    • A method of repayment where periodical payments of principal and interest are made in a certain way so the payment amount remains constant.
  • Level-Premium Insurance Definition,
    • Insurance where the premiums the policyholder pays are guaranteed to remain the same for an agreed upon period of time.
  • Life Insurance Definition, Very Important,
    • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
    CanEquity offers life insurance.
  • Pre-paid Insurance Definition,
    • A insurance policy where insurance premiums are all paid in advance, normally offered in one year terms.
  • Premium Definition,
    • A payment made to an insurance company for insurance coverage.
  • Property Insurance Definition,
    • Insurance that provides coverage for damages to property from a number of perils.
  • Re-entry Definition,
    • The option to renew coverage at the end of a term, generally with level premiums.
  • Whole Life Insurance Definition,
    • Permanent life insurance with level premiums for the policyholder's entire lifetime.
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