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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Saving for College 101

Saving for College 101

Here’s a crash course on saving for college.

A Brief Guide To Condo Insurance

A Brief Guide To Condo Insurance

Important items to consider when purchasing condo insurance.

Did You Know This Fact About Basement Flooding?

Did You Know This Fact About Basement Flooding?

A simple precaution can help prevent basement flooding.