Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
net premium
1 Generally, the premium amount for an insurance policy less agent commissions. 2. The portion of the premium that covers the estimated cost of claims. 3. The money needed to provide benefits under an insurance policy. ( The net premium in a life-insurance policy is calculated by using an assumed interest and mortality-table rate; it does not include additional expense amounts that will be charged to the policyholder. -Also termed net valuation premium.