That portion of a policy's premium that applies to the expired portion of the policy. Although insurance premiums are often paid in advance, insurers typically earn the premium at an even rate throughout the policy term. More Risk Finance and Captives Information from IRMI.
Explorer 1 became the first successfully launched satellite by the United States when it was sent to space on January 31, 1958. A quick response to the Soviet Union's launch of Sputnik 1, Explorer 1's success marked the beginning of the U.S. Space Age.
In January 1958, Sputnik's orbit deteriorated, as expected, and the spacecraft burned up in the atmosphere.On this day in 1957, the Soviet Union inaugurates the Space Age with its launch of Sputnik, the world's first artificial satellite.