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

What is Loss of Use?

What is Loss of Use?

Do you know what Loss of Use is?

Buying vs. Leasing a Car

Buying vs. Leasing a Car

Whatever your relationship with your car, it may eventually come time for a new one. Familiarize yourself with your options.

Insurance Needs Assessment: For Empty Nesters and Retirees

Insurance Needs Assessment: For Empty Nesters and Retirees

Do your insurance needs stay the same when the nest empties?