Insurance Wheel – Calculate returned insurance premium (refund) for cancelled policies

Insurance Wheel

Calculate returned insurance premium (refund) for cancelled policies

Insurance Wheel screenshot 0Insurance Wheel screenshot 1Insurance Wheel screenshot 2

Before there were computers, insurance companies used a round slide rule device called an “Insurance Wheel” to calculate how much premium was to be refunded for a policy cancelled before its expiration date.

Insurance Wheel replaces the old circular slide rules. Insurance Wheel is a useful tool for insurance brokers as well as insurance carriers.

The Insurance Wheel calculator supports the 3 normal ways of calculating how much premium is returned when an insurance policy is cancelled before its expiration date:

Pro Rata – simple fraction of unearned policy period
Short Rate (90% pro rata) – pro rata discounted 10%
Short Rate – table driven

See detail information: googleplaystoreapks.com/category/finance

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s