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.

Share |
 

Related Content

Your DNA Test

Your DNA Test

If your family relies on your income, it’s critical to know what their needs would be in the event of your death.

Did You Know This Fact About Basement Flooding?

Did You Know This Fact About Basement Flooding?

A simple precaution can help prevent basement flooding.

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.