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

Gap Insurance for Leased Cars

Gap Insurance for Leased Cars

If you’re thinking of leasing a new car, then you shouldn’t forget about gap insurance.

The Economic Journey of Your Morning Coffee

The Economic Journey of Your Morning Coffee

Few contemplate the complex journey that brought their coffee from farm to kitchen table.

Universal Life Insurance

Universal Life Insurance

Universal life insurance is permanent insurance with a flexible premium. Here's how it works.