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

Did You Know This Fact About Damaged Property?

Did You Know This Fact About Damaged Property?

Damaged property during the claims process shouldn't be thrown away.

The 12 Steps to Living Confidently: How to Protect Yourself

The 12 Steps to Living Confidently: How to Protect Yourself

Protection. We’re obsessed with it these days.

This Is Your Brain on Retirement

This Is Your Brain on Retirement

The brain is a powerful thing, but when it comes to preparing for something that is far in the distance like retirement, it can easily be led astray — and result in some big retirement planning mistakes.