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

Estate Management Checklist

Estate Management Checklist

Is your estate in order? This short quiz may help you assess your overall strategy.

The A, B, C, & D of Medicare

The A, B, C, & D of Medicare

Learn about all the parts of Medicare with this informative and enjoyable article.

Choosing Between Term and Whole Life Insurance

Choosing Between Term and Whole Life Insurance

Confused about Term or Whole Life Insurance? Discover how they work and, most importantly, how they can work for you.