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.
The USSR launched the first human in space, Yuri Gagarin into a single orbit in Vostok 1 on a Vostok 3KA rocket, on April 12, 1961. The US launched its first astronaut, Alan Shepard on a suborbital flight aboard Freedom 7 on a Mercury-Redstone rocket, on May 5, 1961.