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

Your Emergency Fund: How Much Is Enough?

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.

Did You Know This Fact About Roof Safety?

Did You Know This Fact About Roof Safety?

A roof harness is essential if you're up on the roof making repairs.

What is a Term?

What is a Term?

Do you know what a Term is?