TERMIUM Plus®

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SHORT RATE CANCELLATION [1 record]

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Filter results by subject field

Alphabetical list of terms

Record 1 1989-06-19

English

Subject field(s)
  • Insurance
CONT

When a policy is cancelled by the policyholder before it reaches its natural expiration, the company pays a return premium less than the proportionate or pro rata part that is still unearned. The policy is cancelled "short rate", the amount retained being determined by reference to the Short Term Cancellation Rate Table.

French

Domaine(s)
  • Assurances
CONT

Lorsque c'est l'assuré qui demande la résiliation du contrat, la prime acquise est calculée selon le taux dit "à court terme". Le montant remboursé est alors inférieur à ce qu'il est lorsque la primes acquise est calculée au prorata du temps couru. Tarif "courte durée".

Spanish

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© Public Services and Procurement Canada, 2024
TERMIUM Plus®, the Government of Canada's terminology and linguistic data bank
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