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

Comparing Mortgage Terms

Comparing Mortgage Terms

Estimate the total cost in today's dollars of various mortgage alternatives.

Life Insurance for Young Adults

Life Insurance for Young Adults

Getting Life Insurance before 40 isn’t as uncommon as you think. Find out why this can be a super smart decision for just about anyone.

Silver Sneakers 101

Silver Sneakers 101

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