Cryptocurrency Q&A
What is prorated policy fee?
What is prorated policy fee?
CryptoPioneer
Fri Oct 25 2024
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5 answers
1055
I'm trying to understand what a prorated policy fee is. Could someone explain this concept to me in simple terms, including how it's calculated and when it applies?
5 answers
Valentino
Sun Oct 27 2024
Pro-rata is a method utilized for calculating the refund amount due to an insured individual in the event of policy cancellation before the renewal date.
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Riccardo
Sun Oct 27 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the digital asset market. Among its offerings are spot trading, futures trading, and wallet services.
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HanjiArtist
Sun Oct 27 2024
This approach ensures fairness by refunding the insured for the unused portion of the insurance contract.
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AmethystEcho
Sun Oct 27 2024
The refund is calculated based on the number of days the policy was active, proportional to the total days covered by the policy term.
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Lorenzo
Sun Oct 27 2024
By adopting this practice, insurance companies avoid charging for services not rendered.
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