Quarterly premium payments increase the annual cost of insurance because
Asked by maham237 @ in Business viewed by 266 People
Answered by maham237 @
Quarterly premium payments increase the annual cost of insurance because interest to the insurer is decreased while the administrative costs are increased.
In Quarterly premium payments, the actuaries are entrusted with the responsibility of ascertaining the correct premium of an insured. The premium paying frequency can be different. It can be paid in monthly, quarterly, semiannually, annually or in a single premium.
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