when a policy is cancelled before its expiry date, what is owed to the insured is
-
A.
earned premium -
B.
unearned premium -
C.
return premium -
D.
unpaid premium
Correct Answer: Option C
Explanation
returnpremium. An amount, equal to a fraction of the premium, which is given back to the insured in the case of a cancellation, an adjustment to the rate, or an overpayment of an advance premium.