Not sure about a name or phrase used in our documentation or website? Or perhaps you’ve come across some financial terminology elsewhere that you’re not familiar with? Find out its meaning in our glossary below and if there is a word not in there you think needs adding please do contact us.
Received on a regular and defined frequency under the terms of an insurance policy. This includes premiums that are received on a monthly, quarterly, half-yearly or annual basis, but excludes any one-off or single premiums.