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
Why An Annuity May Be Key to Your Retirement Plan
If you’re looking for a way to supplement your income in retirement, an annuity may be for you.
Did You Know This Fact About the Claims Process?
Claims can be left open as long as you need.
What to Look for in Personal Finance Apps
An increasing number have been developed to help individuals with their personal finances.