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

A Home Insurance Claim: To File Or Not To File

A Home Insurance Claim: To File Or Not To File

Learn when it may not make sense to file a claim on your home insurance.

Protecting Your Home Against Flood Loss

Protecting Your Home Against Flood Loss

Protect yourself against the damage that your homeowners policy doesn’t cover.

Insurance Needs Assessment: When You're Young and Single

Insurance Needs Assessment: When You're Young and Single

Even if you’re young and single, you should still consider protecting yourself.