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 Older Vehicles?
Did you know you have coverage options on older vehicles?
What is a Broker?
Do you know what a Broker is?
Is Term Life Insurance for You?
Term insurance is the simplest form of life insurance. Here's how it works.