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

What is Dwelling Coverage?

What is Dwelling Coverage?

Do you know what Dwelling Coverage is?

If a Tree Falls

If a Tree Falls

This handy video helps you stay prepared in case a fallen tree has damaged your house.

Money that Buys Good Health is Never Ill Spent

Money that Buys Good Health is Never Ill Spent

It's important to make sure your retirement strategy anticipates health-care expenses.