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.

Insurance When You Marry After 40

Insurance When You Marry After 40

If you’re getting married for the first time or remarrying after age 40, life insurance is a must for you and your spouse. Read on and learn about why life insurance is a crucial part of your estate strategy.

Whole Life Insurance Can Be an Essential Piece of Your Retir

Whole Life Insurance Can Be an Essential Piece of Your Retir

You buy whole life insurance as protection for your loved ones and your legacy. But it can be so much more.