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

Did You Know This Fact About Emergency Preparedness?

Did You Know This Fact About Emergency Preparedness?

An emergency kit is essential for every household.

Money that Buys Good Health is Never Ill Spent

Money that Buys Good Health is Never Ill Spent

It's important to make sure your retirement strategy anticipates health-care expenses.

A Cheat Sheet for Sending Your Kid to College

A Cheat Sheet for Sending Your Kid to College

Dropping off your child is loaded with emotions; here are a few tips for a smoother experience.