Definitions for "Return Premium"
Premium that has been paid to an insurer but which has not been earned and is returned to the insured when the policy is canceled or the terms of the policy are changed, thus reducing the amount of premium due.
The amount due the policyowner if an insurance policy is canceled, reduced in amount, or reduced in rate.
( ristourne de prime ou restitution de prime) The amount of premium returned to the insured because of a reduction in the amount and/or type of coverage or improvement in the risk. Also this is the amount of premium returned to the insured, usually because of the early termination of a policy.