FTP

FTP may appear on a policy document or correspondence from the broker or an insurance company.

Full term premium (FTP) is the amount that is charged when you are either starting a policy or renewing a policy. If you do a change part way through the policy then this endorsement amount is usually for the portion of the time insured. For your information purpose only, the insurance company may also declare the FTP.

If you have any questions about the premiums on your policy then you should contact your agent or broker. It is your right to have an explanation of what you are paying for - take control of your insurance!