initial premium

  • Certain policies provide that the actual premium paid shall be determined only at expiration or after certain information has been developed. A premium is charged at the start. This is the "initial" or "deposit" premium and is subsequently readjusted.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).