Insurance

What is a Premium?

Premium

[pree-mee-uh m]

noun

1.

A Premium is the payment made to the insurance company, either monthly or in a lump sum, to purchase insurance. The Premium does not include other costs like copays or deductibles.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Insurance Planning Following Divorce

Insurance Planning Following Divorce

If you are recently divorced, take steps to ensure that you are properly protected.

What is Dwelling Coverage?

What is Dwelling Coverage?

Do you know what Dwelling Coverage is?

Universal Life Insurance

Universal Life Insurance

Universal life insurance is permanent insurance with a flexible premium. Here's how it works.