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.
Related Content
How Pre-Existing Conditions Affect Life Insurance
If you’re considering life insurance but have a pre-existing condition, you may want to check out the facts before automatically assuming you'll only receive low-quality or expensive coverage.
Should You Have More Than One Life Policy?
Whether you need more than one life insurance policy will depend on your personal and financial situation. In this article, we explore some of the reasons one might purchase additional policies.
A Home Insurance Claim: To File Or Not To File
Learn when it may not make sense to file a claim on your home insurance.