MINIMUM PREMIUM
\mˈɪnɪməm pɹˈiːmi͡əm], \mˈɪnɪməm pɹˈiːmiəm], \m_ˈɪ_n_ɪ_m_ə_m p_ɹ_ˈiː_m_iə_m]\
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An employer pays an amount with a percentage used to cover administration costs. Also refers as a general insurance term to mean the lowest premium in this policy for an insured's coverage. This term, as used In health insurance, refers to an arrangement where either situation occurs. The insurer saves the rest to pay claims.
By Henry Campbell Black
Word of the day
Ruspol
- It is used an emulsifier, thickener, suspending agent, etc., cosmetics pharmaceuticals; research culture medium; in chromatography as a stabilizer for reagents; and therapeutically bulk laxative with antacid properties.