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.
Gagarin's craft took him in a full orbit around Earth, making him the first person to circle the planet, as well. [ Infographic: 1st American in Orbit: How NASA & John Glenn Made History ]. On Feb. 20, 1962, the United States showed that it had the same mettle as its competition.