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 first satellite in space was Russia's Sputnik satellite, carried by an R-7 rocket. The R-7 rocket was built by a team of German and Russian scientists led by Sergei Korolev. Sputnik was placed into orbit on October 4, 1957, months before the first U.S. satellite, Explorer 1. Korolev's team managed to create a rocket big enough to take Yuri Gagarin into space. Gagarin became the first man in space, but the U.S. astronaut, Neil Armstrong, became the first man on the moon. Learn more about Space Travel