Calculation of Premium
{"Image DocumentName": "Calculation of Premium", "Image ImageDescription": "Two methods. 1. Value of Service: premium determined according to the utility of insurance to each proponent. This is impracticable. 2. Cost of Service. includes all expenses of the business plus small profit margin. At least premium should cover cost of claim. Net premium: The premium charged to meet the amount of claim. Cost of administration. Fixed cost- spread over the policy life. recurring cost. Method of distribution of expenses is called loading. Interest Factor: Benefit of interest on premium collected to be given to policy holders.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}