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

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.

5 Key Points for Choosing a Life Insurance Policy

5 Key Points for Choosing a Life Insurance Policy

While price is a big factor, there are other important factors to consider when choosing the right life insurance policy for you.

Did You Know This Fact About the Claims Process?

Did You Know This Fact About the Claims Process?

Claims can be left open as long as you need.