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.

 

Related Content

A Penny Saved is Two Pennies Earned

A Penny Saved is Two Pennies Earned

Here are some simple and inexpensive energy-saving tips that may help you save money.

Medicare Advantage 101

Medicare Advantage 101

Overview of Medicare Advantage, what’s in them, special rules, and more.

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.