#### 94 Proportionate rebate of consumer credit insurance premium For subsection 148(4) of the Code, the proportionate rebate of premium is calculated using the formula: ![Start formula start fraction PS open round bracket S plus 1 close round bracket over T open round bracket T plus 1 close round bracket end fraction end formula](image.006.png) where: > P is the amount of the premium paid (not including any amount payable in respect of a government charge). > S is the number of whole months in the unexpired portion of the period for which insurance was agreed to be provided. > T is the number of whole months for which insurance was agreed to be provided.

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