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 Older Vehicles?

Did You Know This Fact About Older Vehicles?

Did you know you have coverage options on older vehicles?

Silver Sneakers 101

Silver Sneakers 101

Medicare’s popular program, offering free gym membership and health education.

Did You Know This Fact About Basement Flooding?

Did You Know This Fact About Basement Flooding?

A simple precaution can help prevent basement flooding.