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.

Share |

Have A Question About This Topic?

Thank you! Oops!
 

Related Contents

Snapshots

Snapshots

Your life is marked by images. Prepare for the unexpected, so you can keep those pictures going.

What You Should Do About Insurance Following a Divorce

What You Should Do About Insurance Following a Divorce

In the face of divorce, making changes to insurance coverage may be overlooked.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.