Full Premium Clause Samples
The Full Premium clause requires the policyholder to pay the entire insurance premium amount, rather than allowing for partial or installment payments. In practice, this means that coverage is only provided once the full premium has been received by the insurer, and failure to pay the total amount upfront may result in no coverage or cancellation of the policy. This clause ensures that the insurer receives full payment before assuming risk, thereby reducing the likelihood of non-payment and administrative complications.
Full Premium. $2.00/Hr. To receive full premium, an employee must be trained and certified in the following areas: ETD, X-ray, and Physical Search. To receive the full premium, the employee’s security screening duties (whether regular assignment or ad- hoc) must include actually performing X-ray screening.