short rate

noun

Legal Definition of short rate

1 : an insurance premium charge for less than a year of coverage that is more than a pro rata part of the annual premium
2 : an insurance policy written for less than one year

called also short term

Learn More about short rate

Cite this Entry

“Short rate.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/short%20rate. Accessed 12 Jun. 2021.

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