Pro Rata

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Pro rata is a way of spreading liability in an insurance policy. Although pro rata can apply in a variety of situations, the focus is always on equalizing legal and financial responsibilities. As it applies to insurance, pro rata calculations apply in dual insurance, insurance cancellations and policy assumption situations.

Pro rata Shared or divided according to a ratio or in proportion to participation. Pro Rata Describing a distribution according to some proportion. For example, a salary may be stated as $120,000 per year pro rata. This means that if an employee only works for six months, his/her salary will be $60,000.

A pro rata salary is calculated by dividing someone’s annual, full-time salary by any portion of an employment period that is less than a year, according to Discovering People. For example, if a full-time employee makes $52,000 per year, the pro rata salary for.

Partial (pro rata) Refund Calculator. Use this partial refund calculator to determine refund amounts:. Enter months without a leading zero.

pro rata meaning: 1. calculated according to, or as a share of, the fixed rate for a larger total amount: 2. relating to a calculation of something such as pay or benefits according to a smaller number of hours worked, a smaller amount of something used, etc. in relation to the hours worked in a.. Learn more.

What does pro rata mean? The meaning of pro rata, or the definition of pro rata according to Cambridge Dictionary, is essentially to be paid in proportion of a fixed rate for a larger amount.. For example, you may be paid an annual salary of 25,000 pro rata – but you only actually work for part time, in which case you’ll be paid a proportion of the 25,000 based on how much of the expected.

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Synonyms for pro rata at Thesaurus.com with free online thesaurus, antonyms, and definitions. Find descriptive alternatives for pro rata.

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