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"Premium mode is a term used to describe the..."

a) Premium past due
b) Method of payment
c) Frequency of the premium payment
d) Premium paid

User Rimon
by
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1 Answer

1 vote

Final answer:

Premium mode is the method of payment for insurance, referring to how often and in what manner the premium is paid.

Step-by-step explanation:

Premium mode is a term used to describe the method of payment for insurance.

It refers to how often and in what manner the premium is paid, such as monthly, quarterly, semi-annually, or annually, and whether it is paid in cash, check, credit card, or through automatic deductions from a bank account.

For example, if a policyholder chooses a monthly premium mode, they would pay the premium amount each month for the duration of the insurance policy.

User Mocktheduck
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