What does ALP stand for in insurance?
ALP INSURANCE POLICIES means the policies issued by Agricultural Excess and Surplus Insurance Co., a subsidiary of Great American Insurance Companies, in the forms attached hereto as Exhibit B.
What is the meaning of annual premium?
Definition: Annualized premium is the total amount paid in a year's time to keep the life insurance policy in force. The annualized premium amount of a life insurance policy does not include taxes and rider premiums.
How do you annualize insurance premiums?
Insuranceopedia Explains Annualized\n\n For example, if a man wants to pay his auto insurance premium two years in advance and his monthly payment is $300 a month, then he has an annualized premium of $3,600. He would have to pay $7,200 to cover two years of insurance.
What is annual premium for life insurance?
An annual premium is the amount an insured needs to pay over the course of a year in order to keep their insurance policy in place. The annual premium you need to pay for life insurance gets set by the insurance provider once they evaluate your risk factors.
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