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

Test Your Life Insurance Knowledge

Test Your Life Insurance Knowledge

How much do you know about one of the most important tools you have to help protect your and your family’s financial future?

Data Thieves from Outer Space

Data Thieves from Outer Space

Learn about the dangers of internet fraud with this highly educational and fun “pulp” comic.

Did You Know This Fact About Fire Extinguishers?

Did You Know This Fact About Fire Extinguishers?

How often should you check your fire extinguishers? Do you know?