Examlex
"Don't bother me with the so-called facts," asserts your Uncle Joe."If it's good enough for Barack Obama, it's good enough for me." Which of the following statements about your Uncle Joe is most likely true? He will
Short-rate Refund
A method of calculating the refund amount a policyholder receives if they cancel their insurance policy before it expires, which may include a penalty.
Premium Rate
The rate charged for an insurance policy, reflecting the cost of coverage.
Annual Premium
The annual premium is the total amount paid for an insurance policy in a year, covering the policyholder for a specified term.
Coinsurance Clause
An insurance policy clause specifying that, if a property is not insured up to a certain percentage of its value, the owner is the bearer of part of the insurance and will not be covered for the full amount of damages.
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