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.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.

Did You Know This Fact About Flood Damage?

Did You Know This Fact About Flood Damage?

Prevent major flood damage with this tip.

What is Underwriting?

What is Underwriting?

Do you know what Underwriting is?