Insurance
Mid-Term Endorsement — Additional Premium
Collecting additional premium when a policyholder increases their sum insured or adds a risk mid-term.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable (Endorsement) | Asset (+) | 400.00 | - |
| Written Premium — Endorsement (Additional) | Revenue (+) | - | 400.00 |
💡 Accountant's Note
Mid-term endorsements adjust the policy. Additional premiums are written pro-rata for the remaining policy period and deferred using the UPR mechanism.
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