What Is an Insurance Premium?

The insurance premium refers to the cost paid to the insurer according to the insurance premium rate set at the time of insurance application when the insured participates in insurance. When the insured property suffers disasters or accidents that cause all or part of the loss, or when a personal accident occurs in life insurance, the insurer must pay the insurance premium. The insurance premium consists of the amount of insurance, the insurance rate and the duration of the insurance. The amount of insurance premium is proportional to the amount of insurance premium, the level of insurance premium rate, and the length of the insurance period, that is, the larger the insurance amount, the higher the insurance rate, and the longer the insurance period, the greater the insurance premium. It is the obligation of the policyholder to pay insurance premiums. If the insured does not pay the insurance premiums on schedule, the insurance contract will lapse in voluntary insurance; in compulsory insurance, a certain amount of late payment will be added. ^[1]

[bo xin fèi]

The insurance premium refers to the amount set by the insured person when he or she takes out insurance.

Insurance premium (insurance premium): refers to the policyholder in order to obtain insurance protection, according to the contract

Insurance is an independent unit or individual to cope with in the process of social reproduction

1. The amount of insurance premium income of a country is a currency symbol of the economic capabilities of members of a country's society to resist the attack of accidents, that is, when an accident within the scope of insurance liability occurs, the members of the society use their own strength to solve the economic Lost ability sign. The larger the amount, the stronger the ability of members of the society to resolve the economic losses caused by accidents. The fewer the impact and trauma of social accidents on social production and life, the smoother and more stable the production and life of social members. As a result, the need for state relief and funding will decrease, and the state will use limited funds to more urgently needed places, which will play a strong role in ensuring economic and social stability and social stability.

2. a country

Insurance premium introduction

The main body of cost sharing is the state, enterprises and individuals. Different combinations of these three entities have produced many ways of sharing costs. Even in the same country, different methods of sharing insurance costs may be used in different social insurance programs. Among them, employers and employees make contributions, and the government bears the ultimate responsibility .

Refinement of insurance premiums

In the method for employers and employees to share insurance costs, it can be further divided into several cases: 1. Equal-rate sharing system 2. Different-rate sharing system 3. Progressive ratio