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

Money Draining Food Myths

Money Draining Food Myths

These food myths will really put a drain on your wallet.

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.

What is Blanket Coverage?

What is Blanket Coverage?

Do you know what Blanket Coverage is?