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Our Glossary of life insurance terms
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Misc
First-Year Premium
This is the life insurance premium falling
due during the first year the policy is in force. Premiums paid
in subsequent years are known as renewal premiums. In an
annuity, first year premiums are any payments used to initially
purchase the policy or that are paid during the first year.
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Invest & Protect LTD
45 Market Street
Wirral
Cheshire
CH47 2BQ
Tel
0800 083 60 50
Fax
0151 632 2117
email:
info@life-ins.co.uk
Office
Hours
9am - 5pm
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