Short rate table

A short rate table is a table used to calculate the earned premium for a policy that is cancelled before the expiration date of an insurance policy. This is a penalty method called short rate or old short rate and is often used when the policy is cancelled at the policy holder's request.

The following table is an example of this table for a policy that has a 365-day term and show the percentage of premium retained by the insurance company based on the number of days that policy is in effect.

In this case, penalty starts off initially at 25% of the annual premium and increases up to 100% by the end of the policy term. But not all insurers have a 25% minimum retained premium.

Days  | %  | Days  | %  | Days  | %  | Days  | %  | Days  | %  | Days  | %  | Days  | %  | Days  | %  | Days  | %  | Days  | %

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1  | 25  | 38  | 25  | 75  | 31  | 112  | 41  | 149  | 51  | 186  | 61  | 223  | 69  | 260  | 77  | 297  | 86  | 334  | 94
2  | 25  | 39  | 25  | 76  | 31  | 113  | 41  | 150  | 52  | 187  | 61  | 224  | 70  | 261  | 78  | 298  | 86  | 335  | 94
3  | 25  | 40  | 25  | 77  | 32  | 114  | 42  | 151  | 52  | 188  | 62  | 225  | 70  | 262  | 78  | 299  | 86  | 336  | 94
4  | 25  | 41  | 25  | 78  | 32  | 115  | 42  | 152  | 52  | 189  | 62  | 226  | 70  | 263  | 78  | 300  | 86  | 337  | 94
5  | 25  | 42  | 25  | 79  | 32  | 116  | 42  | 153  | 52  | 190  | 62  | 227  | 70  | 264  | 78  | 301  | 86  | 338  | 95
6  | 25  | 43  | 25  | 80  | 32  | 117  | 43  | 154  | 53  | 191  | 62  | 228  | 70  | 265  | 79  | 302  | 87  | 339  | 95
7  | 25  | 44  | 25  | 81  | 33  | 118  | 43  | 155  | 53  | 192  | 63  | 229  | 71  | 266  | 79  | 303  | 87  | 340  | 95
8  | 25  | 45  | 25  | 82  | 33  | 119  | 43  | 156  | 53  | 193  | 63  | 230  | 71  | 267  | 79  | 304  | 87  | 341  | 95
9  | 25  | 46  | 25  | 83  | 33  | 120  | 43  | 157  | 54  | 194  | 63  | 231  | 71  | 268  | 79  | 305  | 87  | 342  | 95
10  | 25  | 47  | 25  | 84  | 34  | 121  | 44  | 158  | 54  | 195  | 63  | 232  | 71  | 269  | 79  | 306  | 88  | 343  | 96
11  | 25  | 48  | 25  | 85  | 34  | 122  | 44  | 159  | 54  | 196  | 63  | 233  | 72  | 270  | 80  | 307  | 88  | 344  | 96
12  | 25  | 49  | 25  | 86  | 34  | 123  | 44  | 160  | 54  | 197  | 64  | 234  | 72  | 271  | 80  | 308  | 88  | 345  | 96
13  | 25  | 50  | 25  | 87  | 34  | 124  | 44  | 161  | 55  | 198  | 64  | 235  | 72  | 272  | 80  | 309  | 88  | 346  | 96
14  | 25  | 51  | 25  | 88  | 35  | 125  | 45  | 162  | 55  | 199  | 64  | 236  | 72  | 273  | 80  | 310  | 88  | 347  | 97
15  | 25  | 52  | 25  | 89  | 35  | 126  | 45  | 163  | 55  | 200  | 64  | 237  | 72  | 274  | 81  | 311  | 89  | 348  | 97
16  | 25  | 53  | 25  | 90  | 35  | 127  | 45  | 164  | 55  | 201  | 65  | 238  | 73  | 275  | 81  | 312  | 89  | 349  | 97
17  | 25  | 54  | 25  | 91  | 35  | 128  | 46  | 165  | 56  | 202  | 65  | 239  | 73  | 276  | 81  | 313  | 89  | 350  | 97
18  | 25  | 55  | 26  | 92  | 36  | 129  | 46  | 166  | 56  | 203  | 65  | 240  | 73  | 277  | 81  | 314  | 89  | 351  | 97
19  | 25  | 56  | 26  | 93  | 36  | 130  | 46  | 167  | 56  | 204  | 65  | 241  | 73  | 278  | 81  | 315  | 90  | 352  | 98
20  | 25  | 57  | 26  | 94  | 36  | 131  | 46  | 168  | 57  | 205  | 65  | 242  | 74  | 279  | 82  | 316  | 90  | 353  | 98
21  | 25  | 58  | 26  | 95  | 37  | 132  | 47  | 169  | 57  | 206  | 66  | 243  | 74  | 280  | 82  | 317  | 90  | 354  | 98
22  | 25  | 59  | 27  | 96  | 37  | 133  | 47  | 170  | 57  | 207  | 66  | 244  | 74  | 281  | 82  | 318  | 90  | 355  | 98
23  | 25  | 60  | 27  | 97  | 37  | 134  | 47  | 171  | 57  | 208  | 66  | 245  | 74  | 282  | 82  | 319  | 90  | 356  | 99
24  | 25  | 61  | 27  | 98  | 37  | 135  | 47  | 172  | 58  | 209  | 66  | 246  | 74  | 283  | 83  | 320  | 91  | 357  | 99
25  | 25  | 62  | 27  | 99  | 38  | 136  | 48  | 173  | 58  | 210  | 67  | 247  | 75  | 284  | 83  | 321  | 91  | 358  | 99
26  | 25  | 63  | 28  | 100  | 38  | 137  | 48  | 174  | 58  | 211  | 67  | 248  | 75  | 285  | 83  | 322  | 91  | 359  | 99
27  | 25  | 64  | 28  | 101  | 38  | 138  | 48  | 175  | 58  | 212  | 67  | 249  | 75  | 286  | 83  | 323  | 91  | 360  | 99
28  | 25  | 65  | 28  | 102  | 38  | 139  | 49  | 176  | 59  | 213  | 67  | 250  | 75  | 287  | 83  | 324  | 92  | 361  | 100
29  | 25  | 66  | 29  | 103  | 39  | 140  | 49  | 177  | 59  | 214  | 67  | 251  | 76  | 288  | 84  | 325  | 92  | 362  | 100
30  | 25  | 67  | 29  | 104  | 39  | 141  | 49  | 178  | 59  | 215  | 68  | 252  | 76  | 289  | 84  | 326  | 92  | 363  | 100
31  | 25  | 68  | 29  | 105  | 39  | 142  | 49  | 179  | 60  | 216  | 68  | 253  | 76  | 290  | 84  | 327  | 92  | 364  | 100
32  | 25  | 69  | 29  | 106  | 40  | 143  | 50  | 180  | 60  | 217  | 68  | 254  | 76  | 291  | 84  | 328  | 92  | 365  | 100
33  | 25  | 70  | 30  | 107  | 40  | 144  | 50  | 181  | 60  | 218  | 68  | 255  | 76  | 292  | 85  | 329  | 93  |  |
34  | 25  | 71  | 30  | 108  | 40  | 145  | 50  | 182  | 60  | 219  | 69  | 256  | 77  | 293  | 85  | 330  | 93  |  |
35  | 25  | 72  | 30  | 109  | 40  | 146  | 50  | 183  | 61  | 220  | 69  | 257  | 77  | 294  | 85  | 331  | 93  |  |
36  | 25  | 73  | 30  | 110  | 41  | 147  | 51  | 184  | 61  | 221  | 69  | 258  | 77  | 295  | 85  | 332  | 93  |  |
37  | 25  | 74  | 31  | 111  | 41  | 148  | 51  | 185  | 61  | 222  | 69  | 259  | 77  | 296  | 85  | 333  | 94  |  |

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