Mid-Term Adjustment

In insurance, the term Mid Term Adjustment (or just MTA) refers to a change to an insurance policy.

The change to the policy may cause a change in the premium: an increase is often called AP (for additional premium) whereas a decrease is often called RP (reduction in premium).

An additional transaction may also be payable to cover e.g. costs for revised insurance documents. Some insurers also use this fee to discourage changes, although few are willing to admit this openly.

A cancellation is often treated as a special-case MTA, where the cover gets decreased to zero. Such transactions may attract special fees too.


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