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

What is a Deductible?

What is a Deductible?

Do you know what a Deductible is?

When to Self-Insure

When to Self-Insure

Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails?

Estate Management Checklist

Estate Management Checklist

Is your estate in order? This short quiz may help you assess your overall strategy.