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
What is Underwriting?
Do you know what Underwriting is?
The Business Cycle
Understanding the economy's cycles can help put current business conditions in better perspective.
Should You Sell Your Life Insurance Policy?
Here’s what you need to know if you’re considering selling your life insurance policy.