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

Personal Finance Tips for Military Families

Personal Finance Tips for Military Families

Military families face unique challenges, making personal finance even more critical.

Exit Strategies of the Rich and Famous

Exit Strategies of the Rich and Famous

Estate conservation is too important to put off. Do you have a smart exit strategy?

The Most Overlooked Item of Any Home Improvement

The Most Overlooked Item of Any Home Improvement

The item most homeowners forget on their home improvement project checklist is insurance.