A short rate table is a table used to calculate the earned premium for a policy that is cancelled before the expiration date

Expiration date

Expiration date can refer to:*The shelf life of a grocery item*Expiration *Copyright expiration*Expiration Date , a 2006 comedy* Expiration Date, a novel by Tim Powers...

 of a insurance policy. This is a penalty method called short rate

Short rate

Short rate may refer to:*Short rate cancellation Penalty method of calculating return premium of an insurance policy...

 or old short rate and is often used when the policy is cancelled at the policy holder's request.

The following table is an example of this table for a policy that has a 365 day term and show the percentage of premium retained by the insurance company based on the number of days that policy is in effect.

This penalty starts off initially at 25% of the annual premium and decreases down to 0% by the end of the policy term.