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 Contents

If a Tree Falls

If a Tree Falls

This handy video helps you stay prepared in case a fallen tree has damaged your house.

A Look at Whole Life Insurance

A Look at Whole Life Insurance

Whole life insurance remains in force as long as you remain current with premiums. Here's how it works.

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.