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

5 Costly Mistakes In Your Life Insurance Policy

5 Costly Mistakes In Your Life Insurance Policy

There are many considerations when purchasing family life insurance. Make sure your family understands these life insurance mistakes and how to avoid them.

How Much Home Can I Afford?

How Much Home Can I Afford?

With a few simple inputs you can estimate how much of a mortgage you may be able to obtain.

Extended Care: A Patchwork of Possibilities

Extended Care: A Patchwork of Possibilities

What is your plan for health care during retirement?