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

How Insurance Deductibles Work

How Insurance Deductibles Work

Knowing how insurance deductibles work can help you save money.

Life Insurance Explained

Life Insurance Explained

Looking to learn about life insurance? This comprehensive article is a great place to start.

Gun Ownership and Your Homeowners Policy

Gun Ownership and Your Homeowners Policy

Gun owners need to make sure that their homeowners policy covers the full value of their firearm(s) as personal liability.