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

The Richest Man in Babylon

The Richest Man in Babylon

In good times and bad, consistently saving a percentage of your income is a sound financial practice.

Saving for College

Saving for College

This calculator can help you estimate how much you should be saving for college.

Should You Sell Your Life Insurance Policy?

Should You Sell Your Life Insurance Policy?

Here’s what you need to know if you’re considering selling your life insurance policy.