The first premium payable for an insurance policy.

The first premium payable for an insurance contract. | Back

The amount paid at the beginning of a policy, subject to adjustment at the end of the policy period.

The first premium that is paid for an insurance policy and that is part of the consideration the policyholder gives for the policy.

In life and health insurance, the first premium, generally payable with the application or upon delivery of the policy. In group insurance, especially health, an amount paid at the inception of an insurance contract that permits adjustments to be made based upon future experience.

The premium charged at the outset of insurance subject in some cases to subsequent adjustment.

An amount paid at the inception of an insurance contract, usually subject to adjustment at the end of the policy period.

the premium calculated at the commencement of the policy year, based on an estimate of the wages that an employer is likely to pay during the policy period.