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

Understanding the Basics of Medigap Policies

Understanding the Basics of Medigap Policies

Important as it is, Medicare does not cover the full range of health-care expenses you may experience in your golden years.

If You're In An Accident

If You're In An Accident

Learn the best steps to take after you’ve been in an automobile accident with this useful, step-by-step video.

Mastering Mobile Lingo

Mastering Mobile Lingo

Do you understand these common mobile slang terms?