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

Side-by-Side: Insured vs. Uninsured

Side-by-Side: Insured vs. Uninsured

Here's what happens if your small business has an accident and you're not insured.

From Boats to Brokers

From Boats to Brokers

From the Dutch East India Company to Wall Street, the stock market has a long and storied history.

Data Breach: Your Security To-Do List

Data Breach: Your Security To-Do List

This article provides a checklist of steps to take if you experience a data breach.