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

What is a Loss?

What is a Loss?

Do you know what a Loss is?

Applying for Life Insurance? Here's What to Expect

Applying for Life Insurance? Here's What to Expect

Applying for life insurance isn't exactly simple, but it shouldn't be scary either. We've outlined exactly what you can expect when pursuing a new policy.

The ABC’s of Auto Insurance

The ABC’s of Auto Insurance

What kind of auto insurance should you have? Do you know?