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

Protecting Your Home Against Flood Loss

Protecting Your Home Against Flood Loss

Protect yourself against the damage that your homeowners policy doesn’t cover.

Did You Know This Fact About Claims Advances?

Did You Know This Fact About Claims Advances?

If a fire forces you out of your home, you can ask for a claim advance.

Long-Term-Care Needs

Long-Term-Care Needs

Determine your potential long-term care needs and how long your current assets might last.