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

Protecting Those Who Matter Most

Protecting Those Who Matter Most

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

Raising Healthy Children

Raising Healthy Children

Healthy habits are one of the greatest gifts to give your child.

What You Should Do About Insurance Following a Divorce

What You Should Do About Insurance Following a Divorce

In the face of divorce, making changes to insurance coverage may be overlooked.