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

8 Common Insurance Mistakes to Avoid

8 Common Insurance Mistakes to Avoid

Having at least a basic insurance plan is essential for anyone. It's important to figure out what insurance plans you need and what works best for you and your family.

Is Term Life Insurance for You?

Is Term Life Insurance for You?

Term insurance is the simplest form of life insurance. Here's how it works.

Dog Bites Neighbor. Now What?

Dog Bites Neighbor. Now What?

Even dogs have bad days. So, what happens when your dog bites a neighbor or passing pedestrian?