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fixed premium

   Also found in: Financial 0.01 sec.
fixed premium,
n a specified amount charged for insurance that is not changed by such factors as family size or initial year versus maintenance year of dental care coverage. Also called
set premium.


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Therefore, for those being on annuity plans and receiving money, the payments could be received in fixed premium shares or flexible premium shares.
By sticking to a fixed premium contribution, we saved money on the richer plan designs, which we could apply to those who chose a deductible plan.
Drivers pay a fixed premium based on traditional factors such as residence and marital status.
 
 
 
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