Calculate the Short-Term Premium and Refund for the Policy Canceled

question 148

Short Answer

Calculate the short-term premium and refund for the policy canceled by the insured. $$\begin{array} { l l l l } \text { Annual } & \text { Canceled } & \text { Short-term } \\\underline{\text { Premium }} & \underline{\text { After } }& \underline { \text { Premium } } & \underline { \text { Refund } } \\\$ 430 & 3 \text { months } & &\end{array}$$