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

Did You Know This Fact About Freestanding Structures?

Did You Know This Fact About Freestanding Structures?

Separate structures on your property may have to be insured separately.

The Most Overlooked Item of Any Home Improvement

The Most Overlooked Item of Any Home Improvement

The item most homeowners forget on their home improvement project checklist is insurance.

How Your Credit May Affect Your Life Insurance Premiums

How Your Credit May Affect Your Life Insurance Premiums

This article is perfect for helping you explore the surprising connection between your credit score and life insurance costs.