Premium trust assets include:
6. Net premium on unbilled premium
Items 1 through 5 are “current” premium assets. Cash and receivable assets represent the portion of the transacted premium that was either billed or paid by insured.
Items 6 through 9 are “non-current” premium assets. They represent the outstanding balance of premium transacted that is yet to be billed or paid by insured.
The sum of “current” and “non-current” premium assets represents the “total” premium trust assets.
For any policy the “total amount” of premium assets decreases and becomes zero when all policy premium is received from insured and disbursed to the persons entitled thereto.