Cancellation Refunds: Pro-Rata vs Short-Rate
This lesson is part of the course
In this lesson
You count the days five policies were in force, work out the unearned premium and refund each one with the pro-rata or the short-rate method.
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Lessons in this course
- Premium Calculation: Rates per USD 100 and per USD 1,000 Locked
- Cancellation Refunds: Pro-Rata vs Short-Rate Locked
- The Coinsurance Clause: Did ÷ Should × Loss − Deductible Locked
- Deductibles & Limits: Per Occurrence vs Aggregate Locked
- Auto Liability Split Limits: Who Gets Paid Under 100/300/50 Locked
- Life Insurance Needs: Human Life Value & the Needs Approach Locked
- Annuity Basics: Payouts with PMT, Lump Sums with PV, Growth with FV Locked
- Health Plan Cost Sharing: Exam Quick Checks (Chart) Locked