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
A Bucket Plan to Go with Your Bucket List
A bucket plan can help you be better prepared for a comfortable retirement.
Term vs. Permanent Life Insurance
When considering life insurance, it's important to understand your options.
The Contract Clause That Wants More Coverage
Growing into bigger contracts often means your liability limits need to grow, too. Here's how that works.