What do you mean by ‘money refund premium’?
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A provision in certain policies that allows the beneficiary to be paid the face amount of the policy as well as the total amount of thepremiums paid.
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Explanation:
A premium refund is a clause in an insurance policy that grants the beneficiaries a refund on the policy's face value, as well as the total amount of premiums paid.
This type of refund is not limited to life insurance but is given for different policies, including health insurance and primate mortgage insurance.
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