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

Snapshots

Snapshots

Your life is marked by images. Prepare for the unexpected, so you can keep those pictures going.

Buying Auto Insurance For Teen Drivers

Buying Auto Insurance For Teen Drivers

Tips on insuring your teen driver.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.