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Definition of 'Annualized Premium'

Definition: The total amount of premium paid annually is called the annualized premium.

Description: Any insurance policy comes up with many premium payment options. Premium can be paid monthly, quarterly, semi annually and annually.

For instance, if the monthly premium is Rs 2000, then the annualised premium will be 2000*12 = Rs 24000

Also See: Insurance, Concealment, Bancassurance

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