unexpired portion of premium

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Unearned Premium — The premium corresponding to the time period remaining on an insurance policy. Unearned premiums are proportionate to the unexpired portion of the risk, for which coverage has been sought by the insured party. Thus, it is deemed to have not yet… … Investment dictionary
unearned premium — noun : the share of a total insurance premium applicable to the unexpired portion of a policy term … Useful english dictionary
unearned premium — An insurance premium or part of such premium to which the insurance company is not entitled because of not having carried the risk. That portion of the premium paid by a borrower to a building and loan association which is proportionate to the… … Ballentine's law dictionary
Discount — A reduction in the face value of an interest rate the bank will offer a service to a customer of the bank. The charge made for cashing an immature bill of exchange. The discount is usually proportional to the unexpired portion of the bill.… … International financial encyclopaedia

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