Book given to the insured when an insurance agent makes a policy sale during a home visit. It contains prenumbered receipts signed by the agent when the agent collects a premium.

Stated choice in which life insurance policy dividends are applied to the payment of renewal premiums.

Dollar amount returned to the insured because of favorable experience. Also called dividend, experience refund, experience rating refund, and retroactive rate reduction.

Invoice or bill from the insurance company that is sent to the insured for each premium due on an insurance plan.

Additional premium amount in which the standard Medicare Part B premium goes up 10% for each full 12-month period (beginning with the first month after the end of the beneficiary’s initial enrollment period) in which the beneficiary could have had Medicare Part B but did not take it. There is also a surcharge for Medicare Part D.

Government- or state-imposed fee based on the net premium income collected in a jurisdiction by an insurance company.
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A tax, imposed by each state, on the premium income of insurers doing business in the state.

Under the Fair Credit Reporting Act, advanced written statement to an insurance applicant from an insurance company that an investigative consumer report must be obtained on the applicant.

Abbreviation for preparation for operation or preoperative. See preoperative (preop).

Pertaining to the period before a surgical procedure. Commonly the preoperative period begins with the first preparation of the patient for surgery and ends with the induction of anesthesia in the operating suite.