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

Your DNA Test

Your DNA Test

If your family relies on your income, it’s critical to know what their needs would be in the event of your death.

What is a Loss?

What is a Loss?

Do you know what a Loss is?

Assess Your Life Insurance Needs

Assess Your Life Insurance Needs

This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely.