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

What is Underwriting?

What is Underwriting?

Do you know what Underwriting is?

The Three Keys to a Great Password

The Three Keys to a Great Password

Have fun and learn how to craft the perfect password with the help of this highly engaging infographic.

Understanding Homeowners Insurance

Understanding Homeowners Insurance

Purchasing homeowners insurance is critical for protecting your home.