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.
Related Content
Did You Know This Fact About the Claims Process?
Claims can be left open as long as you need.
Real Talk About Insuring Your Kid’s First Car
Learn real-life realities and strategies for insuring your kid’s first car without breaking the bank.
Split Annuity Strategy
Here's one strategy that combines two different annuities to generate income and rebuild principal.