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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Protection Against Uninsured Drivers

Protection Against Uninsured Drivers

You’re hit by an uninsured driver. Now what? Are you protected against financial losses?

Financial Hacks for Millennials: The Great Wealth Transfer

Financial Hacks for Millennials: The Great Wealth Transfer

Have you heard of the Great Wealth Transfer? If you’re a millennial, it will likely be of particular interest to you, as it may involve an inheritance coming your way. But do you know how you would handle a large influx of money? How millennials manage their wealth in the coming years will play a large role In achieving financial confidence.

Term to Perm Life Insurance Conversion Tips

Term to Perm Life Insurance Conversion Tips

There are many types of life insurance policies that can help protect you and your family. Term life insurance can be an attractive choice for millennials who are...