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

Did You Know This Fact About Roof Safety?

Did You Know This Fact About Roof Safety?

A roof harness is essential if you're up on the roof making repairs.

6 Tips to Help You Prepare for Natural Disasters

6 Tips to Help You Prepare for Natural Disasters

Disaster can strike at any time. These six tips can ensure you’re prepared when it does.

Retiree Health Care Coverage Overseas

Retiree Health Care Coverage Overseas

Retirees traveling abroad need to know that their health insurance travels with them.