Most insurance policies are written for a specific term. Business auto polices, for example are usually written for the term of one year. In a perfect world, one-year policies come and go without need ...

A salaried employee is someone who is paid based on an annual amount, rather than by an hourly rate. Salaried employees are usually full-time workers, although some work part time. Their salaries are ...

Pro rata ensures equal treatment based on stake or time in financial transactions like mortgages. When shifting insurance mid-plan, pro rata calculations secure partial refunds based on unused ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Chip Stapleton is a Series 7 and Series 66 ...

Pro-rata is a Latin term that means “in proportion”. In the context of salaries, a pro-rata salary means pay in proportion to the time employees work, although it can mean share dividends etc. This is ...

Note: This article is part of Morningstar's 2018 Guide to IRAs special report. A version of this article appeared on Oct. 10, 2016. At first blush, the term "pro rata" sounds like the worst type of ...