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 Basement Flooding?

Did You Know This Fact About Basement Flooding?

A simple precaution can help prevent basement flooding.

Keep Your Umbrella Handy

Keep Your Umbrella Handy

Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.

Did You Know This Fact About Foggy Conditions?

Did You Know This Fact About Foggy Conditions?

Foggy conditions make driving more hazardous, but high beams aren't the answer.