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

Side-by-Side: Insured vs. Uninsured

Side-by-Side: Insured vs. Uninsured

Here's what happens if your small business has an accident and you're not insured.

To Catch a Thief

To Catch a Thief

Having your identity stolen may result in financial loss plus the cost of trying to restore your good name.

Will Power

Will Power

Preparing for the eventual distribution of your assets may not sound enticing. But a will puts the power in your hands.