Premium

This topic has no further subtopics. Explore its practice questions below.

1. When is the insurer entitled to payment of premium under Section 77's first sentence?
2. What is the maximum statutory credit extension to a duly licensed intermediary under Section 77?
3. What is the effect of an acknowledgment in the policy of receipt of premium under Section 79?
4. No part of an insured's interest is ever exposed to any insured peril. Which premium-return rule directly applies?
5. A life insurance policy is within an applicable contractual and statutory grace period when the next premium remains un…
6. A non-life policy is issued under a valid broker agreement with a duly licensed intermediary granting the statutory nin…
7. An insured pays the premium for a non-life risk and the insurer validly bears that particular risk for a period. No los…
8. State the general premium-payment rule and explain why it cannot be stated as having no exceptions.
9. An insurer agreed to premium installments, accepted payments and bore the insured risk. It later seeks to treat its own…
10. Distinguish a complete absence of exposure from the mere absence of a loss when considering return of premiums.
11. Does Section 82 recognize premium return where the contract is voidable and subsequently annulled under the Civil Code?
12. Does Section 82 identify fraud or misrepresentation of the insurer or its agent as a premium-return ground?