}
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

Forecast

Forecast

The market is as unpredictable as the weather. We'd love to help you prepare.

Did You Know This Fact About the Claims Process?

Did You Know This Fact About the Claims Process?

Claims can be left open as long as you need.

Changing Unhealthy Behaviors

Changing Unhealthy Behaviors

Five phases to changing unhealthy behaviors.