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.
Related Content
A Deep Dive Into Deductibles
Your deductible does more than lower your premium. Here's what it's actually telling you about your coverage.
The 5 Roles Life Insurance Can Play in Retirement
Life insurance can support your retirement strategy with emergency cash, loan options, and added confidence.
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.